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China new home prices rise 0.6 pct in March, despite tough measures by authorities

Data released by China’s National Bureau of Statistics (NBS) earlier today showed China's new home prices rose by 0.6 percent in March, double the 0.3 percent increase seen in the previous month. The annual increase slowed to 11.3 percent, down from 11.8 percent in February.

Since October last year, the Chinese government has implemented a slew of measures to cool fast growth in housing prices, including restrictions on home purchases and increased minimum down-payment requirements. The stabilization in prices will likely be a headache for policymakers.

Chinese property investment, which includes residential, commercial and office investment, grew by 9.1 percent year-on-year in the first quarter of 2017, up from 8.9 percent in the first two months of the year. From a year earlier, the NBS said that prices rose by 19 percent in Beijing and 16.8 percent in Shanghai, slowing from the 22.1 percent and 21.1 percent increases reported in the year to February.

Data showed that concerns over a potential housing bubble, and with it heightened financial stability risks, continues to increase. However, despite signs to the contrary, some policymakers remain confident that housing market conditions will eventually slow.

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August 16 12:30 UTC Released

USHousing Starts Number MM

Actual

1.155 mln

Forecast

1.220 mln

Previous

1.215 mln

August 16 12:30 UTC Released

USBuild Permits: Change MM

Actual

-4.1 %

Forecast

Previous

9.2 %

August 16 15:30 UTC 120120m

BRForeign Exchange Flows*

Actual

Forecast

Previous

0.361 Bln USD

August 16 23:50 UTC 620620m

JPForeign Bond Investment

Actual

Forecast

Previous

1624.2 bln JPY

August 16 23:50 UTC 620620m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-37.7 bln JPY

August 16 23:50 UTC 620620m

JPExports YY*

Actual

Forecast

13.6 %

Previous

9.7 %

August 16 23:50 UTC 620620m

JPImports YY*

Actual

Forecast

17.0 %

Previous

15.5 %

August 16 23:50 UTC 620620m

JPTrade Balance Total Yen*

Actual

Forecast

392.0 bln JPY

Previous

439.9 bln JPY

August 17 01:30 UTC 720720m

AUFull Time Employment*

Actual

Forecast

Previous

62.0 k

August 17 01:30 UTC 720720m

AUEmployment*

Actual

Forecast

20.0 k

Previous

14.0 k

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