China's New Home Prices Stagnate in June, Marking Weakest Performance of the Year

China's new home prices remained unchanged in June, marking the weakest result this year and putting pressure on policymakers to implement more stimulus measures as the economic recovery falters. The property sector, which accounts for a significant portion of the country's economy, has been struggling due to defaults and suspended construction projects. Despite various policies introduced to support the sector, weak economic outlook and persistent weakness in the housing market have dampened confidence and demand. With falling exports and weak home prices, policymakers are expected to announce further stimulus measures in the coming months.