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Economy

China's addiction to lucrative land sales could spell trouble

Funding method for economic stimulus seen as unsustainable

SHANGHAI -- Even as China enjoys healthy economic growth, its blind faith in rising land prices is creating a dangerous habit of municipalities relying on property sales to support public spending.

Gross domestic product rose a real 6.9% on the year in the January-March period, according to the National Bureau of Statistics, marking a second straight quarter of faster growth, with the economy coming within the 2017 target of around 6.5%.

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