China home prices continue to stabilize

BEIJING - China's red-hot property market in major cities has continued to stabilize after authorities took a series of measures to contain prices, according to an official survey Wednesday.

Of 70 large and medium-sized cities surveyed, 46 saw prices for new residential housing climb month-on-month in December, down from 55 in November and 62 in October, according to the National Bureau of Statistics (NBS).