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China’s new home prices fall at a slower pace in December

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BEIJING — New home prices in China fell at a slower pace in December than a month earlier, official data showed on Saturday, indicating a stabilization in demand driven by a marginal easing of financing restrictions and promotions. by property developers.

Average new home prices in China’s 70 major cities fell 0.2% in December from the previous month, slower than a 0.3% decline in November, Reuters calculated from data published by the National Bureau of Statistics (NBS).

China’s property market has slowed since June 2021 as regulators stepped up their deleveraging campaign against the bloated sector, triggering defaults at some heavily indebted companies. (Reporting by Liangping Gao and Andrew Galbraith; Editing by Muralikumar Anantharaman)