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China home prices up in May for first time in 13 months

But massive inventories of unsold homes could continue to drag on economy well into next year, say economists

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Official data last week showed residential inventory in May was 21.9 per cent higher than a year ago.

Hong Kong

NEW home prices in China rebounded nationwide for the first time in 13 months in May, suggesting a property downturn is bottoming out after a barrage of stimulus from the central bank and local governments since late last year.

Economists, however, warned that massive

sentifi.com

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