China promises a stable policy on the real estate market





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31.08.2010 08:55
China will continue to limit speculation in the property market, despite recent changes in house prices. According to Reuters, the Chinese central bank adviser Xia Bin.

According to him, China will keep "a soft acceptable" pre-emptive monetary and fiscal policies, despite the economic slowdown.

In April, China began to implement measures aimed at suppressing speculative demand for houses, such as increasing the initial fees and interest rates. At the same time he began to make greater efforts to provide affordable housing for ordinary people.

The number of deals with houses declined in recent months, while growth in property prices in 70 major cities slowed to 10.3% yoy in July and 11.4% in June.

"Do not expect any policy changes, even if property prices will fluctuate, - said Xia. - The aim of the measures of controlling the real estate market, are not the prices of homes in a certain period of time. China intends to create a system that will support the sustainable development of the real estate industry. "

In turn, the newspaper People's Daily, a shout of the ruling Communist Party, wrote that China should maintain a stable policy in the coming months to stimulate economic growth.

Government must balance the number of critical factors, such as curbing property prices while sustaining robust economic growth.
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Content tags: Overseas property
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