China's home prices remain stable in August

BEIJING, Sept. 17 (Xinhua) -- Home prices in 70 major Chinese cities remained generally stable with a slight pickup in large cities in August, official data showed Tuesday.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- increased 0.3 percent month on month in August, the same with the increase in July, the National Bureau of Statistics said.

New home prices climbed 0.5 percent in 31 second-tier cities in August from July, and the growth rate was 0.2 percentage points lower than the previous month.

New home prices rose 0.7 percent in 35 third-tier cities in August from July and the growth pace was the same as the previous month.