China's real estate slump continued in October as new home prices fell in 90 percent of major cities.

China's National Bureau of Statistics says prices were down from the previous month in 63 of the 70 cities that it surveyed. That compares to 66 in September.

Beijing and Guangzhou logged price declines of 0.7 percent. Smaller regional cities saw an average decrease of 0.5 percent.

Of the seven cities where prices rose, Shanghai recorded an increase of 0.3 percent and Shenzhen, 0.1 percent.

China's central bank in September unleashed a suite of measures designed to boost the property sector. It also cut its key interest rate.
And this month Beijing announced an economic package worth 10 trillion yuan, or nearly 1.4 trillion dollars, to tackle local government debt.