House price increases occurred in metropolitan cities like Beijing, Shanghai and Guangzhou, led by Hangzhou, which posted a modest increase of 0.6%.

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Indeed Xintiandi is being replicated in cities throughout China, both by Shui On, which has a similar project in Hangzhou, south-west of Shanghai, and by copycats, who have been caught photographing the original's features, down to the carvings above the lintels.

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When I returned home from my China adventure, highlighted by a bullet train ride between Shanghai and Hangzhou, I met with similar skepticism.

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Born in Hangzhou, China, he perfected his English skills by talking up tourists at a local hotel.

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