Pursuits
China Home Sales Rose at Slowest Pace This Year Amid Cooling
- Sales growth of 32.9% compares with 63.5% increase in April
- Property investment picked up 7% in January-May period
This article is for subscribers only.
China’s new home sales rose at the slowest pace so far this year amid policymakers’ moves to cool the property market.
New home sales climbed 32.9 percent to 773 billion yuan ($117 billion) last month from a year earlier, according to Bloomberg calculations based on data the National Bureau of Statistics released Monday. The increase compares with a 63.5 percent surge in April. Home sales fell 2.6 percent in May from April.