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China's real estate sector largely shook off property tightening policies in July, with prices rising.
According to the National Development and Reform Commission, a survey of 36 large and medium-sized cities, revealed that property prices rose 1.6 percent in July from a month earlier. The average recorded price was 8,680 yuan per square meter. Increases were particularly large in a number of second-tier cities, while prices were steady in major cities.
The commission is urging local governments to continue trying to stabilize prices across the country. Developers have called for a loosening of controls, but the latest data appears to underscore the need for tightening policies to stay in place.