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Despite Chinese Permier Wen's remarks intended to keep the idea of lending cuts on the back burner, the Shanghai market lost nearly 5% and then settled for a 2.6% loss overnight, as worried investors opted to get ahead of such an eventual clampdown on hitherto...liberal funding. Their choice to sell was made easier by comments from...China Construction Bank's own chairman, who explained to those who still did not realize it, that vast sums of excess cash have made for the advent of asset bubbles. It's elementary, Mr. Guo.
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