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The central bank’s new measures exempted loans for the purchase of owner-occupied houses and flats, industrial facilities and theme parks to boost the tourist industry. Punters are also still allowed to borrow in order to buy shares in initial public offerings by infrastructure companies. Following the announcement of these measures, banks have suspended margin financing until they have calculated their existing exposure. The market looks set for a bearish period. This year’s surge of mega projects could also have an effect on the macro economy for the first time. |
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