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WevisitedvariousprojectsinShenzhendevelopedbyCOLI,CRLand,KaisaandVankelastFriday.Generally,theShenzhenpropertymarketwasstrongin2013withoverallASPrisingby20%YoYYTD.Moreover,ASPinBao’andistrictsawevenhighergrowthonproximitytoQianhai.AsASPgrowthYTDisalreadyabovetheunderlyingdisposalincomegrowth,weexpectthelocalgovernmenttostrictlyenforceadministrativemeasuresinthec...