China's new home price growth hits two-year high as small cities boom

China's new home prices accelerated at their fastest pace in almost two years in July, led by smaller cities and highlighting challenges policymakers face in stimulating a slowing economy without fueling a property bubble. Average new home prices in China's 70 major cities rose 1.

1 per cent in July from a month earlier, according to Reuters calculations based on an official survey on Wednesday, the fastest pace since October 2016 and up from the previous month's reading of 1 per cent. Outside the recent boom periods.

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