China real estate firms see 4% sales growth after state help

SHANGHAI -- Top real estate developers in China increased sales volumes by 4% in May compared with April, according to a Nikkei analysis, a relatively small boost despite the launch of a government program to buy unsold homes.

Just over 11 million square meters of real estate were sold among 20 major developers, according to comparable monthly sales data released through Wednesday. While this was higher than April's total, it was a 34% decline from a year ago.