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China's real estate fever burns on, defying remedies

Abundant wealth, restricted overseas investing keep the fire going

Shanghai is among the many Chinese cities regulating home buying to keep prices under control.

BEIJING -- New-home prices rose last month in nearly 90% of major Chinese cities, as government efforts to curb overheating did little to puncture the real estate bubble.

Of the 70 cities tracked, 62 saw prices grow on the month, the National Bureau of Statistics reported Tuesday. Prices rose in six more cities in March than in February, and fell in just eight cities -- four fewer than the month before. Cities including Beijing, Hangzhou and Xiamen saw prices resurging after falling in February.

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