China's home price rise continues to slow

New home prices continued to see slower rises in Chinese cities last month, signaling that the government's recent tightening measures were showing effects, according to official data released Tuesday.

Of a statistical pool of 70 major Chinese cities, 65 cities saw month-on-month home price rises in May, down from 67 cities in April, the National Bureau of Statistics (NBS) said in a statement on its website.

According to the NBS, 34 cities in May registered slower month-on-month price rises for new homes from a month earlier.