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China's hard-hit property market posts uptick in home sale prices

January's price rise in 70-cities index offers glimmer of hope for sector

Apartment towers in Beijing's Kaisa Plaza. China's property market has been embroiled in a developer debt crisis.    © Reuters

SHANGHAI -- China's embattled property market saw a glimmer of hope in January with new home prices ticking up after Beijing dismantled years of COVID-19 curbs and rolled out policies to support the sector.

New home sale prices in big "first tier" cities including Beijing and Shanghai rose by 0.2% month-on-month, compared with a flat December, the National Bureau of Statistics said on Thursday.

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