Eastern cities increase reliance on realty

Contrary to popular belief, it is the eastern metropolises in China that seem to be increasingly reliant on real estate investment, a new study released on Tuesday said.

According to a survey conducted by China Business News, cities like Shanghai and Beijing rely more on property investment than other regions.

According to first-half GDP data, real estate investment accounted for 55 percent of Shanghai's fixed-asset investment during the period, while in Beijing the share was 52 percent. Both were much higher than other regions' share, at around 20 percent.