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China Home Sales Surge 23% in First Two Months Defying Curbs

  • Top policy makers vowed at conclave to tackle property bubbles
  • New banking regulator also pledges close watch on real estate
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Photographer: Brent Lewin/Bloomberg
Updated on

China home sales remained resilient in the first two months of the year, signaling policy makers are struggling to check the booming housing market.

The value of new homes sold rose 23 percent to 912 billion yuan ($132 billion) in January and February compared with the first two months of 2016, according to National Bureau of Statistics data released Tuesday. Sales rose 17 percent in December, the last time the data was released.