China's new home prices rise 0.1% m-o-m in December

[BEIJING] China's new homes prices grew moderately in December, official data showed on Friday, as government measures aimed at cooling the market took their toll.

Average new home prices in 70 major cities rose 0.1 per cent in December, matching the pace in the preceding month, according to Reuters calculations of data from the National Bureau of Statistics.

New home prices rose 3.8 per cent in December versus a year earlier, slowing slightly from a 4.0 per cent increase in November.

China's property market has recovered quickly from the Covid-19 pandemic, prompting the government to step up efforts to deleverage the highly indebted sector to curb financial risk.

REUTERS

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