CanadaPolicy dilemmamay open as to Chinese housing SOE market capital varies
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.