Economic Buzz: China House Prices Rise Slightly In May

Chinas house prices in the first-tier cities, namely Beijing, Shanghai, Shenzhen and Guangzhou, gained 0.3 percent on a monthly basis in May, but slower than the 0.6 percent increase posted in April, figures from the National Bureau of Statistics showed Tuesday. House prices in first-tier cities increased 4.7 percent year-on-year in May, the same rate as seen in April. Data showed that house prices in 31 second-tier cities and 35 third-tier cities rose 0.8 percent each from the previous month.