Harbin city announces measures to support property developers, more cities expected to follow suit

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The city of Harbin, capital of North China's Heilongjiang province, has become the first city in the country to announce measures to support real estate developers amid a cooling housing market and growing concerns over their financial health.

The city will provide subsidies of up to 100,000 yuan ($15,500) for talented residents with skills and qualifications looking to buy homes for the first time, according to a document released by the local . . .

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