According to the statistics from the National Development and Reform Commission and the National Statistics Bureau of China, the average housing price in 70 big and medium-sized cities increased by 5.6% in the first quarter of 2007.   Chinanews, Beijing, May 17 - According to the statistics from the National Development and Reform Commission and the National Statistics Bureau of China, the average housing price in 70 big and medium-sized cities increased by 5.6% in the first quarter of 2007. Shenzhen ranked No.1, with its housing price increasing by 12.6%, while Beijing ranked No.3 with a 9% growth.   The price of newly built commercial houses in big and medium-sized cities has also kept rising, even in Shenzhen and Beijing, where strong regulations to suppress housing price hikes are being exercised. Secondhand houses have become more and more expensive, too. For example, the average price of secondhand houses in Dali, Yunnan Province has increased by 10%.   Quite a large number of property agents believe that the rising land prices should be blamed for the housing price hike. Statistics also show that the average land price in the 70 cities has increased by 9.8% in the last 4 months.   "Housing price hike might make an overheating stock market in China, and that's what we must be aware of," said an expert.  

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