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Citibank was most direct in its forecast, projecting a 7-percent fall in average homes prices for the rest of this year. Such a prediction contradicts with the results of a recent survey in which 70 percent of the respondents said they believed that prices would continue to go up.

Chow said that while the US remained China's largest single-country export market, its share has declined to 15.5 percent, from over 19.2 percent in 2018. He attributed this to the "increasingly fraught "China-US relationship.

Citigroup, JP Morgan and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

Chinese tourists are seen carry Japanese goods in Japan. [File Photo/163.com]

Chinese tourists visited domestic attractions over 2.8 billion times in the first half of 2018, up 11.4 percent year-on-year, according to a report released Wednesday by the China Tourism Academy.