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Property

China's new home prices extend slide despite steps to prop up market

91% of top cities logged declines in June with average price falling for 13th month

The Chinese government announced plans in May to buy unsold homes to bolster the property market. (Photo by Mizuho Miyazaki)

BEIJING -- Prices of new homes fell in 91% of China's 70 major cities in June, as government measures to prop up the country's housing market have had limited effect.

It was the 13th consecutive month in which prices declined in a majority of China's major municipalities.

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