Yes, but the growth rate will drop appropriately.

China's real estate investment climbed 10.2 percent from January to November. Realty investment remains one item of ballast keeping fixed-asset investment and the overall economy on an even keel. Investment in property has fluctuated slightly but never contracted since 2000.

China must avert not only big fluctuations in housing prices but also suppression of demand by regulatory measures in the property market this year. Real estate investment will thus neither rise too greatly nor fall too sharply. All parties are likely to expect to maintain stable growth at between 6 percent and 10 percent.