But this figure is dwarfed by what is left, estimated at about 150 billion rand in public companies by Mr Radebe this week and 120 billion rand in state-owned property.

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Historically, virtually all of the major changes in the method of electing the President, including ending the requirement that only men who owned substantial property could vote and 48 current state-by-state winner-take-all laws, have come about by state legislative action.

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Property developers fell on mainland exchanged as expectations faded that accommodative measures for selected property loans from China's four big state-owned banks may boost demand.

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Disney (DIS) will own 43% of the property and the remaining 57% is owned by the state-controlled Shanghai Shendi Group.

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