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China Home Sales Slump Worsens Despite Vows to Support Market

  • Sales at biggest developers dropped 53% in March from year ago
  • Adds to cash crunch as some firms miss earnings deadline
Residential buildings in the Jinshan district of Shanghai.
Residential buildings in the Jinshan district of Shanghai.Photographer: Qilai Shen/Bloomberg

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China’s home sales slump deepened in March, keeping pressure on cash-strapped developers even as policy makers vow to support the property market.