Price growth for new housing in China accelerated in April

Prices for new housing in 70 major cities in China increased by 0.6% in April compared to March, when growth was 0.4%, according to the Wall Street Journal, based on data from the Office for National Statistics of China. In annual terms, the indicator increased by 5.3% after rising by 5.5% a month earlier. Last month, the largest cities in China recorded a decline in prices for new buildings. For example, prices in Shanghai declined by 0.2% in annual terms, in Beijing and Guangzhou - by 0.8%, in Shenzhen - by 2.2%. The rise in prices for new housing in the PRC accelerated due to increased growth in some of the smaller cities. The rise in house prices in April in monthly terms was observed in 58 of the 70 Chinese cities.

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