BEIJING -- The head of China's biggest property developer warned that real-estate bubbles in some of China's biggest cities could spread elsewhere in the country, with potentially damaging consequences for the market.

In an interview, Wang Shi, chairman of China Vanke Co., said government stimulus measures enacted a year ago to keep China's economy from being sucked into the global recession have helped to cause a fundamental turnaround in a property market that was severely ailing before the global financial crisis hit.

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