Property sales surge 33% in June

Home sales in China rose 33% month-on-month in June as prices cuts by developers pulled in buyers, Bloomberg reported, citing official data released on Wednesday. The value of homes sold climbed to RMB591.2 billion (US$95.2 billion) last month from RMB446.1 billion in May, according to the difference between the National Statistics Bureau’s data for the first half of the year and the first five months. That was the biggest monthly gain this year. The value of sales in the first six months fell 9.2% to RMB2.56 trillion from a year earlier, the data showed.