Source: Xinhua, ChinaScope Financial (Data)
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Recent data published by the Guangdong
province statistics bureau shows that in the January-April period, floor space
of commodity housing under construction grew 15.1% YoY. In the same period,
real estate developers in the province invested a total of CNY 127.62 billion,
up 15.1% YoY.
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Fixed asset investment in the province was CNY
411.27 billion, up 9.9% year-on-year in Jan-Apr, the first time since 2002 with
growth rates below 10%.
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The investment growth of real estate therefore
exceeds that of fixed assets by 5.2 percentage points, suggesting that the real
estate sector remains the main driver of Guangdong’s investment growth.
Total real estate development investment of Guangdong Province dropped
in 2012.
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