Market-cooling measures restrict China’s new home prices
November had seen China’s new home prices advance at their most gradual pace since March, official data showed on Monday. This could be attributed to policymakers’ decision of implementing market-cooling measures in the highly-leveraged sector to negate financial risks.
The country’s average new home price across 70 major cities recorded a 0.1% jump in November, according to data released by the National Bureau of Statistics. The figure came milder than the 0.2% growth seen in October. On an annual basis, prices tallied the weakest reading as they jumped 4.0% in November, placing below the 4.3% on-year jump monitored in October.
The data were initially released ahead of a group of economic figures due on Tuesday. These would serve as indicators for market watchers in determining the current health of the world’s second-largest economy.