China home prices rise at a faster pace in May
Average new home prices in 70 major cities climb 6.9% from a year ago, accelerating from April's 6.2% increase
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Hong Kong
CHINA's home prices rose at a faster pace in May, supported by quicker growth in second-tier cities and a broader recovery in smaller cities.
The recovery in China's property market since late last year has been a rare bright spot in the world's second-largest economy, which has been slowing amid weak demand at home and abroad, cooling investment and excess industrial capacity.
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