China's property market sees growing sales

By Hu Yuanyuan (
Updated: 2009-03-11 11:35

China's property market has shown signs of warming up this year, with real estate sales in 40 key cities climbing 6.9 percent year-on-year in the previous two months, Qi Ji, vice minister of Housing and Urban-Rural Development, said on Wednesday.

"The property sales in many cities have realized a growth in January and February due to property developers' price-cutting strategy," Qi said.

According to the National Development and Reform Commission, the property price in China's 70 major cities fell 1.2 percent in February, the third monthly drop in a row.