China's home prices slightly up in December

BEIJING - Home prices in 100 Chinese cities saw a slight growth in December 2019, an industrial report showed.

Average new home prices rose 3.34 percent year-on-year, with the growing pace accelerating 0.17 percentage points from the previous month, according to the China Index Academy, a property research institution.

On a monthly basis, the average new home prices edged up 0.42 percent.

Among the 100 surveyed cities, 69 saw month-on-month increases in home prices, while the rest reported decreasing or unchanged prices.

Nine cities saw the home prices rise more than 1 percent in December from a month earlier. Home prices in eight cities witnessed a month-on-month decline exceeding 0.5 percent.

China's real estate policy remains stable by the end of 2019, said the report, adding that the government maintained to curb speculation in the property market and vowed continued efforts to stabilize land prices and home prices.