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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

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...

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