Prices of new and existing homes in 70 mid-sized and large Chinese cities fell 0.6 percent year on year in May, the government said on Wednesday.

But prices rose 0.6 percent month on month, according to a joint statement by the National Development and Reform Commission and the National Bureau of Statistics.

Prices of new homes fell in 41 cities year on year, with Shenzhen in Guangdong Province and Shijiazhuang in Hebei Province reporting the largest declines of 6.9 percent and 6.3 percent, respectively.

(Xinhua News Agency June 10, 2009)