China's home price growth moderates in May

- China's property sector continued to recover but on a slower pace in May, with fewer cities reporting month-on-month rises in new home prices, an official survey showed Saturday.

Of 70 large and medium-sized cities surveyed in May, 60 saw new home prices climbing month on month, down from 65 in the previous month, the National Bureau of Statistics (NBS) said.

Meanwhile, four cities reported month-on-month price declines, down from five in April, according to NBS data.

On a yearly basis, 50 cities posted new-home price increases and 18 reported falls in May, compared with 46 and 23 in April., 

source : xinhua