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Economy

China home price downturn deepens, October data shows

Evergrande worries linger while COVID dampens consumption

SHANGHAI -- China's home prices continued to flash warnings in October, fresh statistics show, underscoring weaker demand amid authorities' ongoing campaign to rein in speculation.

Prices of new homes in big "first tier" cities such as Beijing and Shanghai rose by 5% in October on an annual basis, 0.3 of a percentage point slower than in the previous month, the National Bureau of Statistics said on Monday.

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