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"From January to September, new home sales volume declined 6.7 percent year-onyear in major first- and second-tier cities, and more than 60 percent of transactions in cities saw price drops last month," said Zhang.

"Have been seeing visuals from West Bengal on the devastation caused by cyclone Amphan. In this challenging hour, the entire nation stands in solidarity with West Bengal," Modi said in a brief statement posted on social media. "Authorities are working on the ground to ensure all possible assistance to those affected."

"Given the current momentum, we expect China's GDP growth to accelerate to 8 percent in 2021 from 2.1 percent this year, benefiting from a low base. Economic activity should normalize further next year, supported by the lagging effects of policy stimulus in 2020 and an improving global outlook as COVID-19 vaccines become widely available," said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered.

"For mainland-based companies seeking IPOs, they are likely to receive higher valuations on the STAR Market than on bourses outside the mainland, giving the board a big advantage," said Zhu Ning, deputy dean of the National Institute of Financial Research at Tsinghua University.

"For passengers, there will be more flight options and the flight ticket prices are likely to become cheaper. The number of travelers going to Japan is expected to continue to grow significantly," he added.