China's housing prices increase despite promises to cool market

03/31/2013 | · Bloomberg · (China)

The pace at which housing prices increase picked up in China during March despite promises by local government to follow the central government's policies and curb the trend. The average price of housing in 100 major Chinese cities jumped 3.9% in March, compared with the same month a year earlier, according to data from China Real Estate Index System. The rate at which prices are increasing marks an acceleration from February's 2.48% price increase and the 1.2% bump in January.

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