China’s home sales worsened in the first ten months of the year despite Beijing’s measures to reverse a prolonged real-estate downturn.
Home sales by value fell 3.7% from a year earlier in the 10 months, compared with the 3.2% drop recorded in the January-to-September period, data released Wednesday by the National Bureau of Statistics showed.
Property investment slid 9.3% on year in the January-to-October period, worsening from a 9.1% decline in the first nine months.
New construction starts tumbled 23.2% from a year earlier in the first ten months, compared with a 23.4% year-on-year drop in the first three quarters.
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