2. Housing prices across China inch up 0.4% in June

The average price for a new home in 100 major Chinese cities rose 0.41 percent from May to June to 8,856 yuan (US$1,370) per square meter, a private real estate data firm said Friday. China Real Estate Index System (CREIS), an affiliate of Soufun, the country's largest online real estate firm, said prices climbed on a monthly basis in 75 of the cities surveyed by the index, with 25 cities seeing slight declines. Prices increased by 5.2 percent last month over a year earlier, down from 5.1 percent in May. The data provides a rough sketch of housing market trends before the National Bureau of Statistics releases official figures on the 18th of each month. The price increases come despite extensive efforts by China's government to curb real estate speculation and slow the pace of home price hikes, including tighter credit controls and purchase restrictions.