[photopress:Property_Shanghai_Apartmentt.jpg,full,alignright]The National Development and Reform Commission (NDRC) said property prices in 70 major Chinese cities rose 9.2% year-on-year in May, compared with 10.1% growth in April.
The central government’s economic planning agency said the prices of new residential properties rose 10.2% year-on-year in May, down 0.6 percentage point from April’s growth rate.
The cities where property price growth exceeded 15% year-on-year last month included Urumqi, Haikou, Ningbo, Beijing and Hangzhou with growth rates of 22.8 percent, 17.6%, 16.6%, 15.7% and 15.2%, respectively.
Source: China Daily
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