SHANGHAI—Fresh evidence of rapidly rising house prices underlined the role a resurgent property sector has played in supporting China’s fragile growth, but also raised fears that a sharper correction would be required to bring prices into line with income.
Prices rose an average 6.7% year-over-year in July, up from 6.1% in June, calculations by The Wall Street Journal based on official data released Sunday showed. On a month-to-month basis, the increase in prices moderated slightly.
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Esther Fung, The Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/EAg8acJ1z8E/
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