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An official at the Ministry of Construction says China has gradually pushed the overheated real estate market back onto a normal development track.
The official says China's residential house prices have been pushed up by speculation. She says the over heated market has been cooled down by implementing macro control and adjustment policies such as controlling bank loans and land use approval.
She adds that the macro adjustment and control policy won't harm the development of the real estate market.
(CRI July 5, 2004)
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