China's home prices grew at slower pace in October, property sales and investment accelerated

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Chinese home prices grew at a slower pace in October, as many developers moved to cut prices to promote sales amid tighter rules on their borrowing, while property sales and real estate investment accelerated.

Average new home prices in 70 major cities rose 0.2 per cent in October from a month earlier, the slowest monthly growth rate since March and easing from 0.4 per cent growth in September, shows calculation based on data released by the National Bureau of Statistics (NBS) on Monday.

The data showed that, of the 70 major cities, 45 . . .

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