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Property controls not to be eased in Sanya

Sanya in South China's Hainan province will continue strict control in the real estate sector to curb speculation, the city's Vice-Mayor Xie Qinglin said on Monday. According to Xie, real estate development investment dropped 16.5 percent year-on-year, with its proportion in total investment declining 9.1 percentage points to 54.2 percent. Still, the city posted GDP growth of 7.2 percent year-on-year to reach 59.5 billion yuan ($8.88 billion) and its public budget revenue increased by 13.3 percent to 10.4 billion yuan. Sanya's tourism sector remained the key engine for stable economic growth, with its revenue reaching 51.4 billion yuan, up 17 percent year-on-year.