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China Daily | Updated: 2014-03-20 07:28
Mainland stocks decline on concern over developers
Chinese equities declined on Wednesday after reports of a private property developer's collapse. The reports sparked concern the industry may face defaults as economic growth slows. China Construction Bank Corp, a creditor of Zhejiang Xingrun Real Estate Co, which reportedly can't repay 3.5 billion yuan ($565 million) of debt, dropped in Hong Kong and Shanghai. The Shanghai Composite Index fell 0.2 percent to 2,021.73 points.
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