China home prices rise at a faster pace in May

Hong Kong

CHINA's home prices rose at a faster pace in May, supported by quicker growth in second-tier cities and a broader recovery in smaller cities.

The recovery in China's property market since late last year has been a rare bright spot in the world's second-largest economy, which has been slowing amid weak demand at home and abroad, cooling investment and excess industrial capacity.

But eye-popping home price rises in the biggest cities have …