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Rapid urbanisation and rising income have led to a strong demand for housing in urban China. However, housing development has been distorted by speculation, income inequality and lack of government support for low‐cost houses. In recent years, house prices become so high, making the vast majority of urban residents unable to afford, whereas rich families are able to buy many and leave them vacant...
The US credit crunch generated substantial turmoil in the global financial markets and directly caused the collapse of several world banking giants. Nonetheless, Chinese commercial banks, decoupled from the rest of the world, achieved remarkable results because of their risk‐averse nature and banking reform during the past 10 years. To improve corporate governance and efficiency, the latest reform...
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