China property prices continue to rise

Property prices in 70 surveyed Chinese cities rose 0.3% in November from the previous month, up 7.7% year-on-year despite Beijing’s efforts to cool the property markets, the Wall Street Journal reported. Prices have risen for three consecutive months, according to data published by the Bureau of Statistics, up 0.2% in October and 0.5% in September. The news is unwelcome for policy makers, who have deployed a raft of measures, including higher down payment requirements, limits on foreign investment and on corporate investment in residential and commercial property.