Property prices rise 10.3% in July

China’s property prices rose year-on-year in July for the 14th consecutive month, but remained unchanged from the previous month, the Wall Street Journal reported. Prices in 70 large and medium-sized cities rose 10.3% from the previous year, less than the 11.4% year-on-year rise in June, and the slowest rate in six months. The National Bureau of Statistics said real-estate development investment rose 37.2% in the first seven months of the year to US$353 billion, slightly slower than the 38.1% growth recorded in the first six months. Beijing has said it will maintain existing policies to fend off speculation and keep property price growth under control.