China new home prices fall in April: survey

The fall in Chinese house prices slowed in April, a survey showed Friday, after authorities loosened mortgage and tax policies in an attempt to boost the country's slumping property market. The average price of a new home in China's 100 major cities edged down 0.01 percent month on month to 10,522 yuan ($1,695) per square metre, the China Index Academy (CIA) said in a report on its website. Property investment is a key driver for China's economy, while land sales are a major sourc