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China Home Prices Up in Most Cities, Posing Policy Challenge

China’s new home prices posted the broadest advance since December 2011, a test for new Premier Li Keqiang as he seeks to prevent a bubble without damping economic growth.

Prices climbed in 62 cities of the 70 the government tracks in February from a year earlier, the National Bureau of Statistics said today. Beijing prices jumped 5.9 percent from a year earlier, the biggest since February 2011, while they advanced 8.1 percent in Guangzhou, the most since January 2011.