Shanghai registers record volume of property transactions

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Last updated at: (Beijing Time) Friday, October 10, 2003

Shanghai registers record volume of property transactions

Shanghai Property Transaction Market dealt with 2,755 property transactions, involving a record volume of 119.49 billion yuan, in the first three quarters of the year.

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Shanghai Property Transaction Market dealt with 2,755 property transactions, involving a record volume of 119.49 billion yuan, in the first three quarters of the year.

The figure is 10 percent higher than that for 2002.

From January to September, sales of state assets accounted for 38 percent of property sales, while more overseas and private funds flowed into the market.

Property transactions are becoming a major channel for China's unlisted companies to restructure their assets, with Shanghai, as a leading economic center, is taking a lead.

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