China's housing price declines spread to more than half of provinces

Debt-laden local governments scramble to defend key source of revenue

China real estate companies

Real estate brokerages in the southern Chinese city of Shenzhen. (Photo by Yusuke Hinata)

IORI KAWATE, Nikkei staff writer

BEIJING -- Housing prices have fallen in a majority of China's provinces for the first time in more than six years as the government tries to tame a real estate bubble, sending debt-laden local authorities rushing to put a floor under the declines.

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