CanadaPol­icy dilem­ma­may open as to Chi­nese hous­ing SOE mar­ket cap­i­tal varies

China Daily (USA) - - BUSINESS - By BLOOMBERG andBy XIN­HUA CHI­NADAILY

CanadaChina’s prop­er­ty­may consider mar­ket re­lax­ing has shown its signs for­eignof cool­ing, in­vest­ment­pos­ing a rules, dilemma in­clud­ing­for pol­i­cy­mak­erssteps to open who up need to State-ownedto shore up the en­ter­prises slow­ing in econ­omy. China, In in July,a bid the to prop­erty­at­tract more sec­tor cap­i­tal con­tin­ued and to spur mod­er­ate,eco­nomic with growth,fewer cities Cana­dian re­port­ing Fi­nance monthly Min­is­ter­rises in new-home­Bill Morneau prices. said.

MorneauOf 70 large spoke­and medium-sizedto re­porters on cities Sun­day sur­veye­dat a in cab­i­netJuly, 51 meet­ing saw new-home­a­head of prices the climbG20 lead­ers’ mon­thon-month, sum­mit in Hangzhou,down from Zhe­jiang55 in June prov­ince,and 60 in in May, early the Septem­ber. Na­tional Bureau of Sta­tis­tics said on Thurs­day.He and Prime Min­is­ter Justin Mean­while,Trudeau will16 cities at­tend re­porteda­long with month-on-mon­thother se­nior price Cana­dian de­clines, of­fi­cials.up from 10 in June and four in May. Asked about re­view­ing re­stric­tion­sOf­fi­cial data on last the week abil­ity showedof State-ownedthat prop­erty en­ter­pris­esin­vest­ment in such the as first those seven in months China roseto ac­quire5.3 per­cent Cana­di­an­from a oil year as­sets, ear­lier, Morneau slow­ing did from nota growthrule out of such6.1 per­cent changes. in He first six said months,his and gov­ern­ment7 per­cent in ex­pect­s­the first fiveto dis­cuss months. with Chi­nese Growth coun­ter­partsin prop­erty how salesto spur in more terms in­vest­mentof floor areain Canada.slowed to 26.4 “We per­centwill ex­pressin the firsta con­tin­ued seven months, in­ter­est down fromin 27.9 hav­ing per­centa re­newedin the first six re­la­tion­ship­months, and with 33.2 China. per­cent In in thatthe first re­gard,five months.we’ll be talk­ingThe cool­ing about should­how we come can as work to­gether,” Morneau said. “Thosere­lief to au­thor­i­tiesques­tions who will havebe things­been wor­riedthat we’ll about talk as­set about, bub­bles, and our but view there will are con­cernsbe that we’ll that try the and prop­er­tyfind ways sec­tor that is we los­ing­can con­tin­uesteam. to en­cour­age in­vest­ment A re­cov­eryin our coun­try.”in the prop­erty mar­ketThen start­ing­prime min­is­ter­from late Stephen last year par­tially Harper helped approved prop the up $15.1 growth bil­lionin the sale Chi­ne­seof oil econ­omy,and gas com­pa­ny­which has Nex­en­been weighedInc to China’s down Cnoocby cool­ingLtd in in­vest­ment,2012. the cut­ting At of the in­dus­tri­al­same time over­ca­pac­i­tyhe in­tro­duced and weaka mea­sure de­mand. that the gov­ern­ment How­ever,in the sharp fu­ture in­creases would in only home al­low prices havea State-owned­fanned fears en­ter­priseof over­heat­ing.to ac­quire an oil sand­sOn an com­pa­nyan­nual ba­sis, un­der Shen­zhen“ex­cep­tional saw home cir­cum­stances”.prices rise 41.4 per­cent ChenFengy­ing,in July. a re­searcher on Prices­the glob­alin Shang­hai econ­omy and Bei­jin­gat the Chi­ne­serose 33.1 per­cent Academy and of 22.7 So­cial per­cent Sciences, year-on-year.said Canada is re­view­ing Less-de­vel­o­pe­d­its re­la­tions ar­eas with and China smaller cities amid have the been slug­gish re­port­ing growth. fall­ing prices and huge in­ven­to­ries“On one of side, un­sold China houses.is a main Jinzhou cus­tomerand Dan­don­gof Canada’sin Liaoningoil prod­ucts. prov­ince,On the and other Mu­dan­jiang­side, Canadain Hei­longjiangis in ur­gent provinces­need of Chi­ne­se­saw year-on-year in­vest­ment de­clines in of its 3.8 painful per­cent, process2.4 per­cent of and eco­nomic1.2 per­cent, re­struc­tur­ing,” re­spec­tively, Chenin July. said, adding “The the prop­er­tyen­ergy mar­ket min­is­ters’ is meet­ing be­com­ing dur­ing in­creas­ing­lythe G20 po­lar­ized,”sum­mit will said be Nia good Pengfei op­por­tu­ni­tyof the Chi­nese to talk Acade­myabout fu­tureof So­cial plans. Sciences.

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