China Home-Price Gains Signal Growth Challenge for Li

China’s new-home prices rose last month in 68 of 70 cities tracked by the government, indicating Premier Li Keqiang will need to maintain efforts to cool the property market even as economic growth slows.

Increases in Guangzhou, Beijing and Shanghai were the biggest on a yearly basis since a change in data methodology in January 2011, a report from the National Bureau of Statistics showed May 18. Property stocks climbed today after the number of cities showing gains matched the level in March, which was the highest since September 2011.