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China new home prices up in December as stimulus kicks in
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CHINA'S new home prices increased in December for the fifth straight month, a survey showed Friday, following a series of stimulus measures aimed at boosting lending.
The gains come as authorities have vowed to stabilise China's property market -- a key pillar of the world's second-largest economy.
The average price of a new home in China's 100 major cities rose 0.74 percent month-on-month in December to 10,980 yuan ($1,686) per square metre, the China Index Academy (CIA) said in a report, marking a pick-up from November's 0.46 percent rise.
On a year-on-year basis, prices increased 4.15 percent.
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