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China must contain the rise of..........>

CHINA PRESS
CHINA PRESS: China must contain the rise of housing prices with tight regulatory
measures, Economic Information Daily said in a commentary, after two major
state-owned banks denied lowering the mortgage rate for first-time home buyers
in Shanghai last Friday. 
  - Continuous rises in housing prices and an expansion in real estate industry
will only increase bubbles and restrict China's potential for development, the
newspaper said. 
  - Local governments must reduce their high reliance on real estate to simulate
the local economy, the newspaper said. 
  - China should soon establish a long-term mechanism to curb people's
expectations for soaring housing prices, the newspaper added.

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