Crecimiento trimestral de China anualizado
Fuente:
China?s Economy Showed Steady Growth In the First Quarter of 2015
Creo que es de destacar este párrafo referido a la inversión en construcción
In the first quarter of 2015, the total investment in real estate development was 1,665.1 billion yuan, a year-on-year growth of 8.5 percent, or a real growth of 9.5 percent. Of this total, the investment in residential buildings went up by 5.9 percent. Floor space of houses newly started in the first quarter was 237.24 million square meters, down by 18.4 percent. Specifically, the floor space of residential buildings started in the first quarter dropped by 20.9 percent. The floor space of commercial buildings sold reached 182.54 million square meters, down by 9.2 percent. Of this total, that of residential buildings went down by 9.8 percent. The sales of commercial buildings in the first quarter were 1,202.3 billion yuan, down by 9.3 percent. Of this total, that of residential buildings was down by 9.1 percent. In the first quarter of this year, the land space purchased by real estate development enterprises was 40.51 million square meters, down by 32.4 percent. By the end of March, the floor space of commercial buildings for sale reached 649.98 million square meters, up by 24.6 percent. The actual funds for real estate development enterprises in the first quarter reached 2,789.2 billion yuan, down by 2.9 percent.
Las nuevas construcciones de viviendas se están desplomando un 18,4%. La compra de suelo, un 32,4%.
La venta de suelo es un tema muy importante en China puesto que se estima que el 15% de los ingresos directos de los gobiernos locales se debe al sector inmobiliario (principalmente venta de suelo o algo parecido a recalificaciones), y hasta un 50% de sus ingresos si se incluyen ingresos indirectos. Y mirad cómo están sus cuentas ya en épocas de mucha construcción
PD: A quién le interese el tema, es muy recomendable para entender qué sucede en China este paper
La burbuja inmobiliaria en China