Friday, March 18, 2011

China Price Gains Slow and Another Reserve Requirement Hike

China property inflation edges down, hit by tightening
New home prices in 70 major Chinese cities rose 5.7 percent in February from a year earlier, down from an annual rise of 5.9 percent in January, according to a Reuters weighted average of official data published on Friday.
Reuters has their own index as of this year since the Chinese statistics agency has ceased publishing their own.

On a month-on-month basis, property inflation was more muted.

Nationwide, prices were up 0.4 percent, compared with a 0.8 percent increase in January, according to the Reuters calculations.

China hikes banks’ reserve requirements
The nation’s biggest banks must set aside 20% of deposits as reserves with the central bank beginning from March 25, the People’s Bank of China said in an early evening statement.

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