by Staff Writers
Beijing (AFP) Sept 1, 2012
Premier Wen Jiabao said Saturday it was too early to loosen curbs on speculative property investment, state media reported, as authorities keep a tight grip over China's once red-hot housing sector.
Wen, who was inspecting an affordable housing project said government efforts to rein in runaway housing prices had been largely successful, the official Xinhua news agency said.
"But the controls over the real estate market are still in a critical period," Wen said in the port city of Tianjin, southeast of Beijing.
His comments come after Xinhua reported last month that China was studying new measures to beef up controls on the property sector, amid signs housing prices were bouncing back.
New home prices in 50 out of the 70 Chinese cities tracked by the government increased in July from June, latest official data showed. That represented a doubling from 25 in June.
The government has been tightening policies for more than two years. Measures include prohibitions on buying second homes, an increase in minimum down payments and the introduction of property taxes in certain areas.
Wen also said effectively increasing the supply of homes to the market would be important in consolidating the success in stabilising housing prices, Xinhua reported.
He also said China had begun work on more than 21 million affordable homes from 2009 to 2011, with almost half the total already built.
China News from SinoDaily.com
Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.
Hong Kong in bid to limit homebuyers from mainland
Hong Kong (AFP) Aug 30, 2012
Hong Kong's leader on Thursday announced measures to prioritise the property market for locals, after years of price rises attributed to an influx of wealthy buyers from mainland China. Chief executive Leung Chun-ying said he had instructed officials to draft laws to restrict sales of certain properties only to the seven million Hong Kong residents under a so-called "Hong Kong land for Hong ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|