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More bad news for China’s property market

Posted on 01 November 2011

China’s property market has been cooling off lately. September home prices decelerated in 59 of 70 major Chinese cities. And prices are likely to continue to slow as Chinese premiere Wen Jiabao said Beijing would maintain its efforts to curb price gains in the property market, Bloomberg reported.
Chinese property stocks slid on the news with China Vanke Co. the country’s largest publicly traded developer falling 2.7% in Shenzen. Meanwhile steel companies that supply the property market were also down…………………………………………Full Article: Source


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