China stocks see largest weekly outflow since October: $1.6 billion withdrawn from Chinese funds, marking first redemptions since November.

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Chinese stock funds saw the largest weekly outflow since October, as the government seeks to stem a decline in the stock market, according to Bank of America Corp. strategists.

About $1.6 billion was pulled from Chinese funds in the week through Feb. 28, a team led by Michael Hartnett wrote in a note, citing EPFR Global data. Emerging market funds overall had their first redemptions since November at $1 billion.

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Desperate property developers in China have resorted to gifts like new cars, free parking spaces, phones and other consumer goods to attract homebuyers and boost flagging sales.

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