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China new home prices up in May: survey

Rise comes as Beijing's loosening policies to boost the market start to kick in

The authorities have taken steps to support the industry as real estate investment remains a key driver for the economy, while land sales are a major source of revenue for cash-strapped local governments.


CHINA'S new home prices increased in May for the first time in four months, a survey showed on Monday, as effects of Beijing's loosening policies to boost the market kick in.

The average price of a new home in China's 100 major cities rose 0.5 per cent month on month to 10,

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