Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry.
Officials of the National Bureau of Statistics acknowledged that domestic demand — spending by consumers and businesses — remained “insufficient” and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier.
