Economic data suggests China's authorities have the legroom to continue efforts to curb escalating property prices. With Q3 half 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.
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.