BEIJING -China’s new home prices grew in November at their slowest monthly pace since March, official data showed on Monday, as policymakers wary of financial risk in the highly leveraged sector continued to pursue market-cooling measures.
The average new home price across 70 major cities rose 0.1% in November from the previous month, Reuters calculated from National Bureau of Statistics data. That compared with 0.2% on-month growth in October. Zhang attributed the softening momentum to stepped-up market tightening policies, as well as increased supply and discounting as developers ramped up sales activity towards year-end.
The government of Harbin in Heilongjiang province has told developers to lower prices, while that of Binzhou in Shandong province plans to distribute “real estate coupons” to help offset home-buying tax.
Chinese economy is really bad. High unemployment, foreign investments and supply chains moving out, local banks defaulted or bankrupted, massive developers bankrupted, they all contributed to the meltdown - you should report facts!
And it is always way more worse than your report.
Property shouldn't be the main push for the economy.
Reuters bought by china?