Housing investment to decelerate in 2017: PBOC economist

A visitor examines a property project model at a real estate expo in Beijing. [Photo/China Daily]

BEIJING - China's housing investment will slow down in 2017 due to property purchase restrictions put in place in recent months, said a senior economist at the country's central bank Wednesday.

Investment enthusiasm in the sector will be dampened by moderation in home prices in many cities, said Ma Jun, chief economist of the People's Bank of China (PBOC)'s research bureau, at an economic forum.

More than 20 major Chinese cities have introduced or resumed property market curbs since autumn as home prices have risen sharply.

The performance of the pillar sector will add uncertainty to the broader economy, according to Ma.

He also predicted that infrastructure investment will grow robustly next year thanks to fiscal spending and public-private-partnership (PPP) projects.

Industrial and private investment will recover in 2017, encouraged by improving profitability at factories, according to the PBOC economist.