China's property sector returns to growth after 6 down quarters

All major industries expand in January-March on post-COVID spending

202304019N construction Beijing

A construction site in Beijing. China's property sector showed growth in the first quarter for the first time since 2021. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China's long-suffering real estate sector expanded for the first time in seven quarters, the National Bureau of Statistics reported on Wednesday, as the end of pandemic restrictions brought growth to all major industries.

Gross domestic product data by industry shows real estate rising 1.3% on the year for the January-March period. This follows declines for six consecutive quarters amid government measures aimed at suppressing a housing bubble.

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