One thorny issue China's new government faces is property prices. Fresh data out Monday showed a rebound in China's housing prices in February.

Prices rose at the fastest pace in 15 months, sparking concerns of tighter policy curbs to come. 62 out of 70 major cities monitored by China's Bureau of statistics logged increases in new home prices, some by as much as 8.2 percent. That means average new home prices in these 70 major cities rose 2.1 percent year on year, and 1.1 percent on a monthly basis. China recently announced a 20% capital gains tax in its latest bid to tame housing prices.

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