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In July, average new home prices in 100 major cities rose for the second consecutive month, by 0.33 percent month on month, data from the China Index Academy showed.

Peng said the low inflation level is giving the central bank ample room to further loosen monetary policies.

The second round was much hotter than the first one, as Zou defended his side better than his opponent, ending the second quarter 4-3.

With major global economies mired in recessions, Gao Shuguang, an economist with the Development Research Center under the State Council, said China's gradually loosening policy, including three cuts in bank reserve requirement ratio (RRR) so far, is in line with international practices.

TAIPEI, July 2 (Xinhua) -- A Taipei court Monday approved prosecutors' request to detain Lin Yi-shih, former secretary general of Taiwan's "Executive Yuan," or the executive authority, who is being probed for graft, hours after he admitted wrongdoing during an overnight questioning by prosecutors.