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China Home Sales Value Rose 61% in September From Year Earlier

The value of China’s new home sales rose 61 percent in September from a year earlier, defying policymakers’ moves earlier this year to cool the property market.

The value of homes sold rose to 1.2 trillion yuan ($178 billion) last month from a year earlier, according to Bloomberg calculations based on data the National Bureau of Statistics released Wednesday. The increase compares with a 33 percent gain the previous month.