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China House Prices Rise 2.2 percent in January

Home prices kept rising at a quicker pace in major Chinese cities in January, underscoring the need for government measures to cool the property market, data released Friday shows.

Of a statistical pool of 70 major Chinese cities monitored by the National Bureau of Statistics (NBS), 53 cities saw home prices increase within 2.2 percent in January from a month earlier. In December, 54 cities recorded increases with a growth margin of no more than 1.2 percent.

New home prices in first-tier cities including Beijing, Shanghai, Guangzhou and Shenzhen rose 2.1 percent, 1.3 percent, 2.0 percent and 2.2 percent, respectively, on a month-on-month basis, marking a quicker pace of growth than in December.

On a year-on-year basis, 53 cities registered rising prices, with the growth rate taking a drastic jump to 4.7 percent from the 2.4-percent rise recorded in December, the NBS said in a statement on its website.

via Xinhua [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza