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China's property sales fell at a faster pace in October and investment in real estate slumped, official data showed on Wednesday, suggesting the crisis-hit sector is yet to emerge from its decline despite Beijing's recent support efforts. Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Authorities have been ramping up measures to support real estate, including relaxing home purchase restrictions and lowering borrowing costs, although these have failed to shore up a meaningful recovery in major cities.

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