China's property sales hit record in 2020 amid monetary easing aimed at supporting virus-hit economy

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China's property sales measured by floor space increased by 2.6 per cent in 2020 from the previous year to 1.76 billion sqm and the value of the properties sold rose 8.7 per cent to 1.736 trillion yuan, according to data released by the National Bureau of Statistics on Monday.

The two figures both hit the highest levels on record. Notably, the growth of property sales measured by floor space was significantly faster than the previous two years, with sales up 1.3 per cent in 2018 and down 0.1 per cent . . .

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