China's new home prices slightly up in May
Home prices in 100 Chinese cities saw a slight increase last month, an industry report showed.
Among the 100 surveyed cities, average new home prices edged up 0.03 percent from April to 16,198 yuan (US$2,414) per square meter in May, according to the China Index Academy, a property research institution.
Average new home prices of the cities increased 1.2 percent year on year.
A total of 40 cities logged month-on-month increases in new home prices in May, while 45 cities saw home prices decrease.
The institution anticipates consumers' expectations and confidence in the new home market to regain stability in June as the country eases financing for home purchases and rolls out more supportive policies.
China has actively rolled out targeted measures such as relaxing restrictions on purchases or sales, adjusting housing provident fund policies, and lowering mortgage interest rates to shore up the property market and underpin the economy.