Runaway house prices to be tamed
Source: Xinhua |
February 28, 2011, Monday
|
Print Edition
Print Edition
Premier Wen Jiabao yesterday reiterated his determination to tame runaway housing prices during his tenure, which is to end in March 2013.
The pledge, during his online chat with the public, came exactly a year after he promised to tame "wild horse" housing prices during another on-line chat.
"We have to contain the excessive price growth and keep housing prices at a reasonable level," Wen said. "I am still confident that we will achieve the goal of policies."
China's housing prices have been climbing steeply since June 2009, fueled by record bank lending and tax breaks.
A series of government policies had failed to prevent housing prices continuing to rise, with the cost of new homes in 68 of 70 major cities up from a year earlier in January.
Wen said the government would work to increase housing supply, with 36 million affordable homes planned in the five years to 2015, including 10 million this year. The government would also step up efforts to develop low-rent public housing, said Wen.
He also said the government would "resolutely" curb purchases for investment and speculation.
"We will use economic, legal and administrative methods if necessary to restrict speculation," Wen said.
The government would also crack down on illegal activities, including the hoarding of land and the delaying of sales to earn higher profits.
"I want to tell real estate developers: I haven't investigated the profits of every one of you, but I think you real estate developers, as a member of the society, should do your own bits for the society. You should have morality running in your veins," Wen said.
The pledge, during his online chat with the public, came exactly a year after he promised to tame "wild horse" housing prices during another on-line chat.
"We have to contain the excessive price growth and keep housing prices at a reasonable level," Wen said. "I am still confident that we will achieve the goal of policies."
China's housing prices have been climbing steeply since June 2009, fueled by record bank lending and tax breaks.
A series of government policies had failed to prevent housing prices continuing to rise, with the cost of new homes in 68 of 70 major cities up from a year earlier in January.
Wen said the government would work to increase housing supply, with 36 million affordable homes planned in the five years to 2015, including 10 million this year. The government would also step up efforts to develop low-rent public housing, said Wen.
He also said the government would "resolutely" curb purchases for investment and speculation.
"We will use economic, legal and administrative methods if necessary to restrict speculation," Wen said.
The government would also crack down on illegal activities, including the hoarding of land and the delaying of sales to earn higher profits.
"I want to tell real estate developers: I haven't investigated the profits of every one of you, but I think you real estate developers, as a member of the society, should do your own bits for the society. You should have morality running in your veins," Wen said.
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