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CHINA PRESS: China should not let local authorities relax controls over the
property market even if some slowing signs appear, the 21st Century Business
Herald reported Tuesday. Property prices in some cities are doomed to fall for
lacking actual demand and purchasing power, so the authorities should allow the
market correct itself, it said. China should not continue to rely on the
property sector for growth at the expense of excess borrowing, while having
financial institutions relying heavily on the property sector may endanger the
economy, according to the report. (21st Century Business Herald)