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Chinese city Enshi urges against drastic home price cuts amid cooling housing market

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The Chinese city of Enshi has moved to support house prices by urging property developers to stop drastic price cuts and pledges punishing measures for those who fail to correct "wrong behaviours", amid weakness in the housing markets of China's lower-tier small cities.

The move of Enshi, a small city with less than one million in the central province of Hubei, comes after property developers slashed prices at some housing projects in the city to boost home sales . . .

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