China property investment growth quickens in Sept

Published: 14 Oct 2009 18:26:06 PST

BEIJING, Oct 15 - Chinese investment in real estate rose 17.7 percent in the first nine months from a year earlier, up from 14.7 percent in the January-August period, the National Bureau of Statistics said on Thursday.

Property accounts for more than 20 percent of total fixed-asset investment in China.

The authorities are counting on increased private-sector capital spending to take the baton of growth from government-driven investment, which has jumped in response to Beijing's emergency 4 trillion yuan ($586 billion) stimulus package. ($1=6.826 Yuan)