China July Home Sales Decline as Wen Vows Curbs to Stay
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China’s home sales transaction value dropped 14.5 percent in July from the previous month as the government vowed to maintain curbs on the property market.
The value of homes sold fell to 454.4 billion yuan ($71.5 billion) from 531.3 billion yuan in June, based on the difference between the National Bureau of Statistics’ data for the first seven months and first half of the year. Housing sales from January to July declined 1.1 percent to 2.4 trillion yuan from a year earlier, according to the data.