<p>China's new home prices grew slightly in May from April, data showed on Monday, pointing to continuing momentum as the property market gradually recovers from the impact of the <a href="https://www.deccanherald.com/tag/coronavirus" target="_blank">coronavirus</a> outbreak.</p>.<p>Average new home prices in China's 70 major cities rose 0.5% in May from the prior month, matching the pace in April, <em>Reuters </em>calculations showed.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-india-now-stands-in-the-6th-position-globally-as-tally-spikes-over-257-lakh-toll-crosses-7100-846670.html" target="_blank"><strong>For latest updates and live news on coronavirus, click here</strong></a></p>.<p>The property market, a key driver of growth in the world's second-largest economy, was among many segments of the economy disrupted by the coronavirus health crisis and tough containment measures.</p>.<p>But Beijing still refrains from using the real estate sector as a short-term stimulus, even as the economy struggles to recover from its first contraction in decades in the first quarter.</p>.<p>China will stick to the principle that "houses are for living in, not for speculation" and will implement city-specific policies for the property market, Premier Li Keqiang said in his work report unveiled in May.</p>
<p>China's new home prices grew slightly in May from April, data showed on Monday, pointing to continuing momentum as the property market gradually recovers from the impact of the <a href="https://www.deccanherald.com/tag/coronavirus" target="_blank">coronavirus</a> outbreak.</p>.<p>Average new home prices in China's 70 major cities rose 0.5% in May from the prior month, matching the pace in April, <em>Reuters </em>calculations showed.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-india-now-stands-in-the-6th-position-globally-as-tally-spikes-over-257-lakh-toll-crosses-7100-846670.html" target="_blank"><strong>For latest updates and live news on coronavirus, click here</strong></a></p>.<p>The property market, a key driver of growth in the world's second-largest economy, was among many segments of the economy disrupted by the coronavirus health crisis and tough containment measures.</p>.<p>But Beijing still refrains from using the real estate sector as a short-term stimulus, even as the economy struggles to recover from its first contraction in decades in the first quarter.</p>.<p>China will stick to the principle that "houses are for living in, not for speculation" and will implement city-specific policies for the property market, Premier Li Keqiang said in his work report unveiled in May.</p>