China's home sales pick up in May

Hong Kong

CHINA's housing sales in major cities, measured by floor space, jumped 37.4 per cent in May from a year earlier, a private survey showed on Tuesday, helped by government's stimulus policies and developers' push to clear inventories.

The jump compares to a 21.8 per cent rise in the April, according to China Real Estate Index System's (CREIS) survey of 36 major first to third-tier cities.