New home price growth slows

Rates decline in Beijing, Shanghai, Guangzhou and Shenzhen in Feb

New home price growth slowed in February from the previous month in 70 major Chinese cities tracked by the National Bureau of Statistics, as a series of cooling measures helped rein in property prices in big cities, even as smaller cities continued to show resilience.

Compared with January, a total of 16 cities reported declines in new-home prices in February. Prices in 10 cities remained unchanged, while 44 recorded gains. The four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen saw new-home prices decline mildly ranging from 0.2 to 0.6 percentage point from a month ago, according to NBS data published on Monday.