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Compared to the previous month, new home prices in the four cities increased 0.6 percent, up 0.3 percentage points from May; specifically, Beijing and Shanghai's new home prices remained flat, while Guangzhou and Shenzhen rose 1.9 percent and 0.3 percent, respectively. Their used home prices stayed unchanged from May.

Commenting on the government's ongoing efforts to reduce excess capacity, Chi said that the measures have helped balance global steel supply and demand, and provided an impetus for the Chinese steel industry to upgrade and develop.

Companies from home and abroad have done well in recent months. For example, US sportswear company Nike reported 24 percent growth in China market revenue in fiscal year 2019. It was also the first time its annual revenue in China topped billion.

Components for the new hybrid London black cab, designed by Chinese automaker Geely, will be manufactured at a factory in Bedwas, Wales, creating 130 local jobs.

Concerns about capital outflows from China have receded lately, with the Chinese economy on a firmer footing.