Property destocking in China's smaller cities to persist, says senior economic planner

Beijing

CLEARANCE of the housing overhang in many of China's smaller cities is likely to persist, a senior economic planner was quoted as saying on Tuesday, suggesting that smaller centres may continue to prosper from intensifying property curbs in bigger cities.

Ning Jizhe, National Development and Reform Commission (NDRC) vice-chairman, made the remarks on Tuesday just hours after China reported an acceleration in home price growth in March on a monthly basis.