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China's land sales slowed in August despite accelerating home sales as developers turned more cautious amid the latest government efforts to restrict fund flows to the real estate sector to curb financial sector risk.
The 31 major Chinese developers' land reserves increased by 34.56 million square meters in August, down 6 per cent from a month earlier, and the value of the new land reserves was 167.6 billion yuan, falling 4 per cent from the previous month, according to data from real estate consultancy China Real Estate Information Corp (CRIC).
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