China's housing market showed signs of improvement in January as home price declines in 70 large and medium-sized cities generally narrowed from the previous month, official data showed on Friday.
In the four first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- prices of newly built homes edged down 0.3 percent month on month in January, while prices of second-hand homes slipped 0.5 percent, according to the National Bureau of Statistics (NBS).
Meanwhile, across 31 second-tier cities, the average month-on-month price declines were 0.3 percent for new homes and 0.5 percent for resold homes, while prices in 35 third-tier cities fell 0.4 percent for new homes and 0.6 percent for resold homes.
On a year-on-year basis, however, the downward pressure persisted as price declines widened in all city tiers, the NBS data showed.
China has maintained policy support for the real estate sector and is seeking to build a new development model amid shifting supply-demand dynamics.
Authorities have recently repeatedly stressed the need to promote higher-quality development in the property sector.
China will adhere to a city-specific, targeted policy approach, focusing on controlling new supply, reducing inventory, and improving housing quality, said Ni Hong, minister of housing and urban-rural development.
Efforts will also be made to support developers' reasonable financing needs and to better meet residents' essential housing needs and demand for better housing, he added.
China's home price declines ease in January
An Iranian delegation led by Foreign Minister Seyed Abbas Araghchi arrived in Pakistan on Friday night to discuss regional developments and ongoing peace efforts, a spokesman for Pakistan's Ministry of Foreign Affairs said.
Tahir Andrabi, the spokesman, said in a social media post that Araghchi is scheduled to meet Pakistan's leadership to exchange views on the evolving regional situation and efforts aimed at promoting peace and stability.
Upon arrival, the Iranian foreign minister was received by Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, Chief of Defense Forces and Chief of Army Staff Field Marshal Syed Asim Munir, along with other senior officials.
Araghchi currently has no negotiation plans with U.S. representatives, but will convey messages to the U.S. side through Pakistani mediators, according to Iranian sources on Friday.
However, the White House said Friday that U.S. President Donald Trump's envoy Steve Witkoff and son-in-law Jared Kushner are heading to Pakistan for talks with Araghchi this weekend.
U.S. Vice President JD Vance, who led the U.S. negotiating team during the first round of talks in Pakistan earlier this month, is not currently planning to attend the upcoming talks, White House Press Secretary Karoline Leavitt said, adding he will be standing by and consulting Trump alongside Secretary of State Marco Rubio.
Earlier in the day, Araghchi said in a social media post that he was embarking on a regional tour that includes stops in Islamabad, Muscat and Moscow. Araghchi emphasized that the purpose of the visit is to closely coordinate with partners on bilateral affairs and to consult on the regional situation. He also noted that Iran's neighbors are a priority for Iran.
Iranian delegation led by FM arrives in Pakistan
