China's home prices up in February

BEIJING -- Major Chinese cities in general reported rising home prices last month, adding to evidence of a stabilizing property sector, official data showed Thursday.

In February, 55 out of 70 large and medium-sized cities saw month-on-month increases in new home prices, up from 36 in January, according to the National Bureau of Statistics. Meanwhile, 40 cities witnessed higher resale home prices, up from 13 in the previous month.