China's Booming Real Estate to Offer More Jobs

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Last updated at: (Beijing Time) Tuesday, September 02, 2003

China's Booming Real Estate to Offer More Jobs

China's booming real estate industry is becoming an increasingly important employment channel.

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China's booming real estate industry is becoming an increasingly important employment channel.

The real estate industry is now accommodating over five million people in its management sector and another 30 million in construction, according to the National Bureau of Statistics (NBS).

"The average annual increase of job opportunities in the sectorwas 4.5 percent from 1995 to 2000 and the rate is expected to risecontinuously given the fast growth of China's real estate industry," said an official with the NBS.

NBS statistics show that the investment in China's real estateindustry increased about 19.5 percent annually from 1998 to 2002. The rate in the first six months of 2003 reached 34 percent, taking over 20 percent of the country's total fixed assets investments.

Economists said that the fast growth of the real estate industry will further boost other related industries including metallurgy, raw materials, home decoration, electrical appliances,finance and transportation, which will in turn produce more job opportunities.

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