The effect of building up investment housing market and conniving in speculative purchase of house in some cities is analyzed.

分析了近几年一些城市培育投资性住房市场并纵容投机性炒房的效应；

youdao

Third, we will rein in speculative housing purchases. We will intensify the implementation of differentiated credit and tax policies. We will improve the advance purchase system for commodity housing.

三是抑制投机性购房。加大差别化信贷、税收政策执行力度。完善商品房预售制度。

youdao

For example, if underlying hedge funds were to purchase financial futures contracts for speculative versus hedging purposes, which is common, pension investment restrictions may be violated.

FORBES: Pensions Perilously Binging Upon Hedge Funds, Funds of Funds and Funds of Funds of Funds (March 20, 2007)