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Monday 16 April 2012
Rosneft, ExxonRussia Stunned After Japanese Plan to Evacuate 40 Million Revealed
Of the 35 major cities surveyed, property prices in eleven including Beijing and Shanghai were between 30 and 50 per cent above their market value, the China Daily said, citing the Chinese Academy of Social Sciences.
Massive stimulus measures taken since 2008 to fend off the financial crisis injected huge amounts of liquidity in the market and have been blamed for fuelling real estate prices.
Prices have continued to soar, investors have increasingly turned to property speculation fuelling the continued bubble.
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