China’s Property Investment Slows in July as Beijing Tightens Curbs

Lights are seen reflected on a window as a man works on renovating an office building near residential buildings in Beijing on Aug. 12, 2019. Florence Lo/Reuters

BEIJING—China’s property investment slowed to its weakest pace this year in a sign the housing market’s resilience may be waning as Beijing toughens its crackdown on speculative investments and holds back on new stimulus.

Property investment, which mostly focuses on the residential sector but also includes commercial and office space, is a key driver of growth in the world’s second-largest economy.