Chinese Property development has solid foundations

China's property development remains bullish this year despite tightening measures, and total real estate investment in the first 11 months has surpassed that of the whole of 2017, according to official data. Investment in property development in the Chinese mainland's 31 provinces, municipalities and autonomous regions totaled 11 trillion yuan ($1.6 trillion) from January to November, exceeding the 10.98 trillion yuan of 2017, according to the National Bureau of Statistics (NBS) data. Guangdong topped other provinces by investing 1.29 trillion yuan in property development, followed by Jiangsu with 1.03 trillion yuan and Zhejiang's 927 billion yuan. Compared to the same period in 2017, 14 provincial-level regions reported growth in property investment of more than 10 percent. The Tibet autonomous region took the lead by surging 136 percent, followed by Jilin province (30.1 percent), Zhejiang (22.5 percent), Guangdong (19.1 percent), Gansu (17.9 percent), Heilongjiang (17 percent), Shanxi (16.6 percent), Jiangsu (16 percent), Hunan (15.4 percent), Shaanxi (15.2 percent), Yunnan (14.2 percent), Shandong (13 percent), the Guangxi Zhuang autonomous region (11.3 percent) and Liaoning (10.7 percent). The investment volume is impressive considering the tightening measures in the sector, because 405 property restrictions have been announced across the nation this year, up 80 percent from a year ago, according to a report published earlier this month by the Chinese Academy of Social Sciences.