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China's home price gains slow in major cities

[SHANGHAI] New home price growth in China's first-tier cities slowed in January after local governments implemented property measures to rein in escalating values and banks tightened lending.

Home prices in the capital city of Beijing and the southern business hub of Shenzhen both rose 0.4 per cent from a month earlier, the National Bureau of Statistics said in a statement yesterday, the slowest pace since October 2012.

Prices in Shanghai added 0.5 per cent, the smallest increase since November 2012,...

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