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China reports property market is cooling

08-18-2011 15:00 BJT

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China has just released the country's July price report for 70 major cities, and the figures indicate a gradually cooling real estate market.

According to the National Bureau of Statistics, new home prices in 14 cities decreased from the previous month. And in 17 cities, prices were unchanged. Both figures show improvements from June.

Looking at individual cities in the capital city Beijing, new home prices rose 1.9 percent in July from a year earlier, slowing from a 2.2 percent annual rise in June. In Shanghai, prices climbed 2.5 percent.

Editor:Li Wanran |Source: CNTV.CN

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