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China: No Easy Cure for Local Governments' Addiction to Real Estate Revenue

Oct 16, 2015 | 09:02 GMT
Buildings under construction near the People's Bank of China office building in Chongqing.
Buildings under construction near the People's Bank of China office building in Chongqing.
(CHINA PHOTOS/Getty Images)

As the Chinese real estate market weakens, Beijing will enact policies to prop up the sector while it finds ways to reform its fiscal relationship with local governments....

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