Cities rein in home prices
China Daily | Updated: 2011-06-20 08:01
BEIJING - More Chinese cities have seen month-on-month declines in the prices of both new and secondhand homes, according to the National Bureau of Statistics (NBS) on Saturday.
The NBS said in a statement on its website that month-on-month price growth for new commercial homes was reported in 50 out of the NBS's statistical pool of 70 major cities. That compared to 56 cities reporting month-on-month growth in April.
New home prices declined from a month ago in nine cities and stood unchanged in 11 cities, while 27 cities posted smaller monthly price gains, said the NBS.
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