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CHINA PRESS: China's small and medium-sized property companies will be under
financial duress from large inventories and difficulty making debt repayments,
the 21st Century Business Herald reported Wednesday. The government won't loosen
controls on the property soon, while higher market rates pushed up the costs of
issuing bonds, pressuring the property market, the report warned. Banks are
still raising mortgage rates with rates rising by 5%-10% above the benchmark
interest rate, further discouraging purchases, the report noted. (21st Century