News Summary: China growth seen slow, stabilizing
STABLIZING: A Chinese government official said efforts to reverse the nation's economic slump are taking effect and growth is "stabilizing at a slow pace."
SLOWDOWN: Economic growth fell to a three-year low of 7.6 percent in the second quarter. Forecasters expect growth to rebound late this year or early next, but a strong recovery requires improvement in the U.S. and Europe.
SPECULATION: Government curbs on China's housing market have suppressed speculative activity blamed for soaring prices. Prices for new homes declined in July in 58 out of 70 major Chinese cities.