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China home prices rise in February

Reuters BEIJING (Reuters) — China’s red-hot property market picked up pace in February after price gains had slowed in the previous four months, with average new home prices in 70 major cities edging up in spite of a raft of new government curbs aimed at tempering speculative demand.

Compared with a month earlier, new home prices rose 0.3 percent, quickening from January’s 0.2 percent increase, according to Reuters calculations from data issued by the National Bureau of Statistics (NBS) on Saturday.

The monthly gain in price growth suggested speculation has yet to be contained even with more local governments rolling out restrictive measures amid fears that a furious rally over the past year will end in a crash.

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