China Home Prices Post Worst Performance This Year on Curbs
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China’s home prices fell in 33 of 70 cities monitored by the government in October, the worst performance since it expanded property curbs and scrapped the reporting of national average housing data this year.
Wenzhou led the decline with a slump of 4.6 percent from September, more than 10 times the average drop, according to data released by the statistics bureau today. A credit squeeze on smaller businesses in the eastern city prompted a visit and pledge of financial aid from Premier Wen Jiabao last month.