Source: Xinhua, ChinaScope Financial (Data)
+ 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.
+ 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%.
+ 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.