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Property market regulation to continue
Source: Xinhua |
December 30, 2010, Thursday
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Print Edition
Print Edition
CHINA will enhance the regulation of the property market in 2011 and strengthen implementation of tightening measures already unveiled by the government, a senior official said yesterday.
Jiang Weixin, Minister of Housing and Urban-Rural Development, said at a national work conference that China will clamp down on speculative home purchases and curb excessive growth in property prices next year.
The country has rolled out a string of tightening measures to cool the market, including suspending mortgages for third-home purchases, speeding up trials of property taxes and raising down-payment requirements for first-home buyers, which have "helped contain speculative demand to some extent," Jiang said.
Jiang added that the ministry would assess local governments' performances in stabilizing property prices to ensure central government measures are properly implemented.
China will continue to increase land available for residential property and strengthen management of the public housing fund in 2011.
The country built 5.9 million units of affordable housing and renovated 1.36 million dangerous rural dwellings this year, compared with targets of 5.8 million units and 1.2 million units, respectively, Jiang said.
Further, China will increase the supply of affordable housing, renovate more shantytowns and develop public rental housing to solve the housing problem of low- and middle-income earners, the newly employed and migrant workers, Jiang said.
Jiang Weixin, Minister of Housing and Urban-Rural Development, said at a national work conference that China will clamp down on speculative home purchases and curb excessive growth in property prices next year.
The country has rolled out a string of tightening measures to cool the market, including suspending mortgages for third-home purchases, speeding up trials of property taxes and raising down-payment requirements for first-home buyers, which have "helped contain speculative demand to some extent," Jiang said.
Jiang added that the ministry would assess local governments' performances in stabilizing property prices to ensure central government measures are properly implemented.
China will continue to increase land available for residential property and strengthen management of the public housing fund in 2011.
The country built 5.9 million units of affordable housing and renovated 1.36 million dangerous rural dwellings this year, compared with targets of 5.8 million units and 1.2 million units, respectively, Jiang said.
Further, China will increase the supply of affordable housing, renovate more shantytowns and develop public rental housing to solve the housing problem of low- and middle-income earners, the newly employed and migrant workers, Jiang said.
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