Chinese property prices eased lower in June for the first time in nearly 18 months, a sign that the government's campaign to reduce real estate speculation and cool the economy is beginning to bite.
Following weekend figures that showed slowing growth of imports and the money supply, the house price numbers are a further indication that the Chinese economy is weakening after a period of rapid expansion fuelled by stimulus.
The average price of houses in 70 main cities fell by 0.1 per cent from May, the sort of moderate cooling in the property market policymakers are hoping to engineer.
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