China will not re­lax curbs on prop­erty spec­u­la­tion

The Pak Banker - - I Nternational -

BEI­JING: China will not re­lax curbs on prop­erty spec­u­la­tion in 2011 and will re­in­force the im­ple­men­ta­tion of mea­sures to con­tain ris­ing home prices, do­mes­tic me­dia re­ported on Wed­nes­day, cit­ing Hous­ing Min­is­ter Jiang Weixin. Of­fi­cials at­tend­ing the min­istry's year-end work meet­ing ad­mit­ted that "it re­mains an ar­du­ous task to curb overly fast prop­erty price rises in 2011," Cai­jing mag­a­zine re­ported on its web­site, www.cai­jing.com.cn. Pledge, with­out out­lin­ing more de­tails, is a rep­e­ti­tion of re­cent vows by the coun­try's top lead­er­ship. Premier Wen Ji­abao and Vice Premier Li Ke­qiang, acutely aware of pub­lic anger over un­af­ford­able hous­ing prices, said on Sun­day and Tues­day re­spec­tively that they would not tol­er­ate prop­erty in­fla­tion and spec­u­la­tion. The world's sec­ond-largest econ­omy has so far rolled out a slew of mea­sures to cool the red­hot real es­tate mar­ket, in­clud­ing higher mort­gage rates and down pay­ments. -Reuters

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