Land sales revenues fall in face of property curbs
Source: Xinhua |
July 15, 2012, Sunday
|
Print Edition
Print Edition
CHINA posted significant declines in land sales revenues in the first half of this year as the government vowed not to relax its tightening over the property sector, according to data from the Ministry of Finance (MOF) yesterday.
Nationwide, revenues from land sales tumbled 27.5 percent year on year to reach 1.14 trillion yuan (US$180.24 billion) in the first six months, MOF data showed.
However, income from land sales still contributed to about 17.8 percent of the country's total fiscal revenue in the first half of this year, which stood at 6.4 trillion yuan, up 12.2 percent from a year earlier.
The MOF attributed the declines in land sales revenues to developers' reluctance to buy land as the government continues tightening over the housing market.
"By no means should we allow housing prices to rebound," Premier Wen Jiabao said earlier this month. "We must unswervingly continue macro controls over the housing market."
He said the government will keep in place measures to curb the property market.
Nationwide, revenues from land sales tumbled 27.5 percent year on year to reach 1.14 trillion yuan (US$180.24 billion) in the first six months, MOF data showed.
However, income from land sales still contributed to about 17.8 percent of the country's total fiscal revenue in the first half of this year, which stood at 6.4 trillion yuan, up 12.2 percent from a year earlier.
The MOF attributed the declines in land sales revenues to developers' reluctance to buy land as the government continues tightening over the housing market.
"By no means should we allow housing prices to rebound," Premier Wen Jiabao said earlier this month. "We must unswervingly continue macro controls over the housing market."
He said the government will keep in place measures to curb the property market.
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