China's home prices remain stable in January

Home prices in 70 major Chinese cities remained generally stable in January, official data showed Monday.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- increased 0.4 percent month on month in January, 0.2 percentage points faster than the previous month, the data from National Bureau of Statistics showed.

In 31 second-tier cities, new home prices rose 0.2 percent in January from December, 0.1 percentage points lower than the previous month.

New home prices rose 0.4 percent in 35 third-tier cities in January from last month and the growth pace was 0.2 percentage points lower than the previous month.