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China’s property boom cools, pain spreads

Posted on 30 November 2011

China Vanke Co and other leading Chinese property developers are slashing prices to attract customers as government measures to rein in an overheated market are having their effect.
China Vanke, the country’s largest publicly listed developer by market capitalization, this month cut prices at projects in Shanghai and Shenzhen by 20% compared with earlier sales, according to China Real Estate Information Corp (CRIC), a data and consulting firm. Rivals such as Longfor Properties, the largest developer in the central metropolis of Chongqing, and China Overseas Property, have made similar price cuts………………………………………..Full Article: Source

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