Four of China’s biggest cities scramble to knock a real estate bull run off its pace amid fear of risk and bubbling debt

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Local authorities of four major Chinese cities have erected barriers over the past week to prevent an unprecedented flood of cheap money unleashed by the central bank from buoying prices in the 17.4 trillion yuan (US$2.7 trillion) housing market.Shanghai, the country’s commercial hub, kicked off the market-cooling policies last Friday with some of the most draconian policies to limit the amount of money homebuyers can borrow for buying real estate. That was followed within days by housing…

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