China’s home prices see mild increases in January

BEIJING, Feb. 23 (Xinhua) — China continued to see a generally stable housing market in January, with home prices in 70 major cities showing mild month-on-month increases, official data showed Tuesday.

New home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — rose 0.6 percent month on month in January, compared with a 0.3-percent increase registered in December, according to data from the National Bureau of Statistics.

A total of 31 second-tier cities saw a month-on-month increase of 0.4 percent in new home prices, while 35 third-tier cities witnessed a month-on-month rise of 0.2 percent in new home prices last month.

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