CCTV.com - CNTV English - CCTV News

China's housing market calms in July

08-11-2010 09:02 BJT Special Report:China’s Economic Data for July |

Watch Video

Play Video

China's red hot property market is calming down. Official data shows that housing price growth slowed in July, while sales and investment in the sector also declined.

The National Bureau of Statistics says property prices in major Chinese cities rose around 10 percent last month from a year earlier. It was the third consecutive month that the housing prices increased at a slower pace and it's the lowest rate in six months.

The slow-down follows a series of government measures to curb speculation in the property market, and rein in excessive price rises. Sales area dropped over 15 percent in July year on year. While investment in property development also declined from the previous month.

China imposed lending curbs in April to slow double-digit increases in housing prices. The banking regulator said earlier this month that the government would maintain policies to cool the market.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program