The National Bureau of Statistics says less Chinese cities have seen month-on-month decline in prices of both new homes and second-hand homes.
The NBS says that month-on-month price growth for new commercial homes is reported in 50 out of 70 major cities pooled, 6 cities less than April.
The government has adopted various measures to cool the property market and curb rising prices, including higher down payment requirements, interest rate increases, home purchase restrictions and a real estate tax trial in the cities of Shanghai and Chongqing.
As home sales continue to fall amid strict tightening measures, some Chinese real estate companies have turned away from the property market and began investing in mining.
According to the China Mining Association, at least 15 property developers have tapped the mining industry with a total investment of about $3 billion U.S. dollars by June.
However, analysts urged caution, saying mining may not save some housing developers squeezed out by the country's tightening measures because of underlying risks.
