China's property market still under pressure in May

China's property market still lacks the momentum for recovery, with consumer confidence in the market this month still staying weak and domestic property enterprises continuing to struggle with heavy debts, Mysteel Global noted.

During the three weeks over May 1-21, new home sales across the 50 key cities nationwide averaged 4.3 million sq m/week, lower by a significant 17.7% from the weekly average over April 1-30, according to the latest survey conducted by China Index Holding (CIH), a specialized platform dedicated to