Home prices will ‘remain under pressure’
Housing prices will remain under pressure for the foreseeable future, and the government isn’t expected to take any steps to boost the market, industry analysts said.
The average price in 100 cities sampled was 10,978 yuan ($ 1,770) per square meter in May, a dip of 0.32 percent month-on-month, according to the China Index Academy Ltd, a Beijing-based research institute that’s wholly owned by SouFun Holdings Ltd. May was the fifth consecutive month in which the rate of price growth slowed.
According to a report by Beijing-based China Business, the Ministry of Housing and UrbanRural Development has sent some suggestions to the cabinet that are based on recent research.
The report, citing an anonymous ministry source, said that the government will pursue a neutral policy in the near term, neither tightening nor stimulating the real estate market. (Photo 3)
Authorities in Hanyang, in Central China’s Hubei province, have come up with a new way to stop jaywalking. Jaywalkers who are caught are required to stand watch on the street until they catch another jaywalker, according to a new regulation, Xinhua reported. Authorities said they have seen a 50 percent drop in jaywalking incidents since the new rule went into effect.