HONG KONG -- China's latest bid to rescue its crisis-hit property sector has sparked a market rally on hopes it marks a turning point, but a rebound in home sales is crucial for any recovery, observers say.
China debt crunch
Doubts hang over China's property sector rescue package
Markets rally on news, but success of new measures remains to be seen
Residential buildings under construction in Shanghai: China's property market has been hit by a debt crisis among developers and sagging demand for new homes. © Reuters
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