China land sales revenue falls at slower pace in March

BEIJING : China's government land sales revenue fell at a slower pace in March, according to the Ministry of Finance on Tuesday, as a slew of stimulus policies lifted developers' sentiment.

In March, land sales slumped 23.2 per cent from a year earlier, slower than a 29 per cent decline in January-February, according to Reuters calculations based on the ministry's data. The property sector sharply slumped last year, but is now being buoyed by a slew of policies aimed at developers and buyers. Official data for March showed home prices rise at the fastest pace in 21 months although property investment continued its decline.

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