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China needs to speed up formation of....>

CHINA PRESS
CHINA PRESS: China needs to speed up formation of a sustainable system for
developing the property market, the People's Daily reported Monday. Such a
system is essential for the stable transformation of the country's economy, the
newspaper said, noting that the last financial crisis were caused by a bursting
of a property market bubble.  With a high proportion of housing sales due to
speculation, high housing inventories and high leverage ratios, the current
situation requires China to continue to rein in surging housing prices and
tackle potential risks. (People's Daily)

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