China Index Academy: Second-hand home transactions in core cities continued to increase in May
In May, major cities in China saw a continued increase in second-hand home sales, with 20 cities recording 107,000 transactions between May 1st and 24th, a 19.5% year-on-year increase. This surge in volume is distinct from previous market behaviors, as it coincides with stabilizing prices and a moderation in the rate of decline in cities like Beijing and Shenzhen, unlike the "price-for-volume" strategy seen last year. The People's Bank of China also conducted a 7-day reverse repurchase operation, injecting 249 billion yuan into the market at a 1.40% interest rate. AI