Sales of residential property in China's major cities dwindled drastically during the first weeks of 2008, the China Securities Journal has reported.
Cities such as Beijing, Wuhan and Chongqing saw their housing transactions in the first week of the year decrease by more than 20 percent than the previous week, the report said.
Housing transactions in the booming southern city of Shenzhen fell by about 38 percent and sales in Nanjing, capital of the coastal Jiangsu Province, plummeted by more than 52 percent, it said.
