China new home prices up in January

The gains come as authorities have sought to stabilise China's property market -- a main driver of the world's second-largest economy -- and rolled out new measures intended to encourage migrant workers to buy homes in the cities where they work. The average price of a new home in China's 100 major cities rose 0.42 percent month-on-month in January to 11,026 yuan ($1,675) per square metre, the China Index Academy (CIA) said in a report, a slight easing from December's 0.74 percent rise. The prop