The trend of surging prices this year has been controlled, said Yao Jingyuan, the former chief economist with the National Bureau of Statistics, during the annual session of the China Real Estate Chamber of Commerce held on Thursday in Shenzhen.

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These include telecommunications, e-commerce, financial services, health care, real estate, automotive, and travel.

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Stiglitz (using Commerce Department data) hasn't figured in gains in real estate, stocks, 401(k)s and other assets on American household balance sheets.

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Sovereign-wealth funds, pension plans, and private-equity players have been making enquiries about industrial real estate in China, attracted by the heady growth in the e-commerce industry, consultants and developers said.

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They are quite content to have their capital embodied in physical goods destined for future sale, in shares in industrial undertakings, in real estate which brings in rentals, or in loans to active men engaged in industry and commerce.

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