Data compiled by the National Bureau of Statistics of China showed that housing prices rose by the fastest pace on record, accelerating 12.60% year over year. The index of 70 major cities has risen for 14-straight months, raising speculation that the higher momentum is unsustainable. To control the gains to a degree and prevent overheating, the government has implemented certain property curbs designed to avoid a bubble and put the brakes on meteoric growth. The result of these activities has seen monthly price growth dip modestly from 1.10% to 0.60% in a sign that efforts to cool the market are starting to take hold. After reaching a brand new multi-year high, USDCNH is back on the retreat following dollar profit-taking as the Yuan retraces half of the previous session’s losses.
Chinese Housing Market Continues its Ascent
Daily Analysis - 19/12/2016