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China's real estate industry will continue to grow steadily and rapidly in the second half of the year, spokesman Zheng Jingping of the National Bureau of Statistics said in Beijing Wednesday.
"Investment in the real estate sector won't be affected by the country's macro-regulatory policies," said Zheng at a press conference on the first-half economic performance of China.
Between January and June, investment in the real estate industry rose 23.5 percent, a drop of 5.2 percentage points year-on-year, Zheng noted, adding that real estate would continue to be a crucial factor to allure investment in fixed assets in the months to come.
"The purpose of macro-regulation is not to restrain the growth of the real estate industry but make its expansion healthier and steadier," he said.
Most of the policies implemented during the first six months were to curb the rocketing housing prices in some cities, he added.
"China's economy, after 50 years of development, has become more and more mature. Its growing trend will no longer rely on one single driving force but the balanced development in food, clothes, housing, transportation and consumption," he said.
(Xinhua News Agency July 21, 2005)
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