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CHINA-PROPERTY/GUANGZHOU
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November 13, 2014
A logo of Evergrande Group is seen in front of a construction site in Guangzhou, Guangdong province,...
Guangzhou, China
A logo of Evergrande Group is seen in front of a construction site in Guangzhou
A logo of Evergrande Group is seen in front of a construction site in Guangzhou, Guangdong province, November 7, 2014. China's state-backed developers are making unprecedented investments in Guangzhou, as the private firms that have dominated the wealthy southern city for decades grapple with tight liquidity and Beijing's corruption crackdown. The waning fortunes of the "Guangzhou Five Tigers" - the city's big private developers - are giving state-owned enterprises the chance to muscle in on one of China's most prestigious property markets for the first time. The so-called tigers - Agile Property, Evergrande Real Estate Group, Country Garden Holdings, Guangzhou R&F Properties and KWG Property - would no longer dominate the city, state-owned China Resources Land's chief financial officer Yu Jian said, according to a company official. Picture taken November 7, 2014. REUTERS/Alex Lee (CHINA - Tags: BUSINESS CONSTRUCTION LOGO POLITICS REAL ESTATE)
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