Christopher Balding writes:

• According to the National Bureau of Statistics China (NBSC), the price of
  private housing in China rose by a total of 8.14% between 2000 and 2011 and only
  5.99% in urban areas, where Chinese were moving to in large numbers.
• According to the NBSC, the annual price of private housing in rural areas
  grew at 1.67%, more than three times faster than prices in urban areas at 0.53%.
• According to the NBSC, the price increase of renting outpaced the change in
  the price of private housing by nearly 50%, making it significantly more
  advantageous to purchase an apartment between 2000 and 2011 in China.
• According to the NBSC, only 12% of Chinese households are renters, skewing
  inflation data.

Read more: http://seekingalpha.com/article/1630872-how-badly-flawed-is-chinese-economic-data-the-opening-bid-is-1-trillion?source=email_global_markets&ifp=0