Related News
Chinese Premier vows to curb excessive growth of home prices
Source: Xinhua |
March 5, 2010, Friday
|
Online Edition
Online Edition
CHINESE Premier Wen Jiabao today reiterated determination to curb excessive growth of home prices in major cities and satisfy people's basic need for housing as the annual session of China's top legislature opened.
He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC).
Wen promised to increase supply of low-cost housing and common residential houses, as well as restrain speculative purchase and tightening land use management.
A total of 63.2 billion yuan (US$9.25 billion) will be spent by the central government on low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.
The government will also build three million affordable houses and renovate 2.8 million shanty houses, he said.
Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.
China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months.
He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC).
Wen promised to increase supply of low-cost housing and common residential houses, as well as restrain speculative purchase and tightening land use management.
A total of 63.2 billion yuan (US$9.25 billion) will be spent by the central government on low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.
The government will also build three million affordable houses and renovate 2.8 million shanty houses, he said.
Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.
China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
