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Prices were also unchanged from a year earlier, retreating from a 0.1% increase in May. The property sector, accounting for one-fourth of activity in the world's second-biggest economy, slumped sharply last year as developers defaulted on debts and suspended construction of presold housing projects. Markets widely expect more stimulus around a meeting of the ruling Communist Party's Politburo late this month, setting the tone for economic policies in the second half of the year. Thirty-one of the 70 cities monitored by NBS recorded month-on-month rises in new home prices, down from 46 in May. Prices were flat after rising in May in tier-one cities including Beijing and tier-two cities.
Persons: Chen Xiao, Hunter, Chen, Zou Lan, Goldman Sachs, dampening, Qiaoyi Li, Liangping Gao, Ryan Woo, Kim Coghill, William Mallard Organizations: National Bureau of Statistics, Communist Party's Politburo, Zhuge, NBS, People's Bank of China, Thomson Locations: BEIJING, Beijing
"Tang ping" and "bai lan" reflect the intense competition faced by young Chinese today, said Jia Miao, an assistant professor from NYU Shanghai. "Tang ping is the rejection of overworking, where you let things be and do the bare minimum," said Miao. Unemployment and uncertaintiesBoth buzzwords, tang ping and bai lan, reflect the intense competition faced by young Chinese today, said Miao. 'Tang ping' gives me breathing space to reflect on my career and future, it's not necessarily a bad thing." "I have set goals for myself when I am not working, so 'tang ping' doesn't feel like a waste."
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