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Real estate developers have not.........>

CHINA PRESS
CHINA PRESS: Real estate developers have not slowed the pace of land purchases,
even after the imposition of stricter controls on the sector, so property
investment growth may beat expectations this year, the Shanghai Securities News
reported Wednesday. Land sales in 300 cities totaled CNY2.20 trillion in the
first eight months, a gain of 34% year-on-year. This indicates how optimistic
developers are about the outlook for the sector, the report said. The top 60
real estate companies listing on the mainland or Hong Kong stock markets
invested CNY1.034 trillion to buy land in the first eight months, fully 52% more
than CNY682 billion in the same period last year, the report noted. Investment
growth will edge down slightly to 6.3% to 6.5% y/y growth in 2017, from the 7.4%
gain posted last last year. (Shanghai Securities News)

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