MNI BRIEF:China Optimistic On Property Despite Investment Fall
MNI (BEIJING) - Authorities are optimistic about the future trend of the real-estate market, despite property investment falling 10.3% in October, after a package of measures to promote the sector proved effective, according to Fu Linghui, spokesperson for the National Bureau of Statistics on Friday.
October’s data indicated an initial stabilisation of prices, Fu noted. However, authorities would focus on the sector's quality in future rather than quantitative increases, following a long period of rapid expansion, he added.
China is likely to raise its budget deficit target for 2025 to as high as 3.5% of gross domestic product, and to increase issuance of special government bonds to provide additional stimulus for the economy, advisors told MNI. (See MNI:China To Raise 2025 Deficit Ratio, More Special Bonds Eyed)