China's new home prices rise 0.1% m/m in December

China's new homes prices grew moderately in December, official data showed on Friday, as government measures aimed at cooling the market took their toll. China's property market has recovered quickly from the COVID-19 pandemic, prompting the government to step up efforts to deleverage the highly indebted sector to curb financial risk.

China's new homes prices grew moderately in December, official data showed on Friday, as government measures aimed at cooling the market took their toll. Average new home prices in 70 major cities rose 0.1% in December, matching the pace in the preceding month, according to Reuters calculations of data from the National Bureau of Statistics.

New home prices rose 3.8% in December versus a year earlier, slowing slightly from a 4.0% increase in November. China's property market has recovered quickly from the COVID-19 pandemic, prompting the government to step up efforts to deleverage the highly indebted sector to curb financial risk.

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