Economic data suggests China's authorities have the legroom to continue efforts to curb escalating property prices. With Q3 2017 economic expansion coming in at an expected 6.8% and China's China Daily reporting that property-price growth tapered to 0.2% in September, authorities can allow the property market to relax a little, said analyst Phillip Zhong at research firm Morningstar. The figures give officials the "confidence to continue the tightening policy without the fear of a slowing property sector dragging down the entire economy", Zhong said. China's property market contributed 6.5% to overall GDP last year, according to state-owned National Bureau of Statistics.
Economic data suggests China's authorities have the legroom to continue efforts to curb escalating property prices. With Q3 2017 economic expansion coming in at an expected 6.8% and China's National Bureau of Statistics reporting that property-price growth tapered to 0.2% in September, authorities can allow the property market to relax a little, said analyst Phillip Zhong at research firm Morningstar. The figures give officials the "confidence to continue the tightening policy without the fear of a slowing property sector dragging down the entire economy", Zhong said. China's property market contributed 6.5% to overall GDP last year, according to state-owned China Daily.