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China's January property prices rise 5 percent year-on-year: statistics bureau
China’s new home prices in January grew 5 percent from a year earlier, data from the statistics bureau showed on Saturday, even as the government continued its efforts to rein in speculative demand to fend off bubble risk. The government removed the sales prices for affordable housing from the latest monthly calculations, distorting comparisons with previous months’ growth data. Average new home prices in China’s 70 major cities rose 5 percent in January year-on-year and 0.3 percent month on month, according to Reuters calculations based on the official survey. That compared with December’s annual growth of ... (full story)