Property prices droped in more Chinese cities both on a monthly and annual basis in December as the market cooled following the government's persistent tightening efforts.

In December, 52 cities out of the statistical pool of 70 major cities saw drops in new home prices from November, compared with 49 cities in November, the National Bureau of Statistics (NBS) said on Wednesday.

On a year-on-year basis, nine cities out of the 70 saw price declines in December, up from four in November, the NBS said.

Source:xinhuanet