China's new home prices grew at their weakest pace in 17 months in December...
BEIJING - China’s new home prices grew at their weakest pace in 17 months in December, with broader curbs on the sector continuing to cool the market in a further blow to the sputtering economy.
It was the slowest pace since July 2018, and significantly weaker than the 9.7% gain seen in December 2018. Most of the 70 cities surveyed by the NBS still reported monthly price increases for new homes, though the number was up to 50 from 44 in November, showing some broadening strength in the market.
China’s southern province of Guangdong said on Tuesday it will ease the residential permit in all its cities except the powerhouses of Guangzhou and Shenzhen. The so-called tier-3 cities outperformed other city-tiers by rising 0.6% on a monthly basis, quicker than November’s 0.5% gain, the statistics bureau said in a statement accompanying the data.
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