[photopress:property_factories_1.jpg,full,alignright]Another indicator that the China property market is impossible to forecast is that the news that China’s spending on factories and real estate grew 25.6% through May led by property development and boosted by reconstruction work after snowstorms in January and February.
Urban fixed-asset investment rose to RMB4.03 trillion ($585 billion) in the first five months from a year earlier after gaining 25.7% in the four months through April.
Spending was more than the combined value of the economies of Thailand, Singapore and New Zealand.
[photopress:property_factories_2.jpg,full,alignleft]Investment in real-estate development rose 31.9% in the first five months from a year earlier but compare with sending on non- ferrous metals which jumped 41.5% and on coal which surged 47%.
This is a situation which is impossible to call. It will be months before there is a clear picture