“China’s property market is seeing tentative signs of revival. Primary residential property prices in the 70 major cities posted a month-to-month increase of 0.06%, the first time in the past 13 months to record positive change, data provided by The National Bureau of Statistics show. But Shenzhen is stealing the show. New home prices there jumped by 6.7%. By comparison, the other three tier-one cities, Shanghai, Beijing and Guangzhou, recorded only 2.6%, 1.4% and 1.4% rise. Shenzhen is home to the vibrant technology industry. Tencent Holdings, for instance, is headquartered there. Shenzhen’s ChiNext board, which hosts New Economy stocks, has more than doubled this year.”
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