HONG KONG -- The downward spiral in China's real estate industry deepened last year, developers' latest earnings show, offering little respite for the world's second-largest economy as it confronts rising trade tensions with the U.S.
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Homebuyers stand near a window in an unfinished residential building in Tongchuan, in China's Shaanxi province, in 2023. The country remains in the grips of a yearslong property market downturn. © Reuters
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