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China makes curbing property bubble a priority for 2017

Communist Party leaders shoot for stability ahead of staff shake-up

A suburb of Chongqing, one of the cities swept up in China's urban property bubble

BEIJING -- China will make deflating the country's growing property bubble a top priority in 2017 along with fiscal stimulus, aiming to keep the economy on an even keel as Communist Party leadership prepares for a twice-a-decade changeover.

President Xi Jinping and other top cadres gathered for three days here through Friday for the annual Central Economic Work Conference, reflecting on progress in 2016 and charting the course for next year, the second year of the Xi administration's first five-year plan. China's consumption and production have been fairly robust since autumn. But real estate prices in major cities continue to climb, creating a need for policy that can underpin growth while also keeping the bubble in check.

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