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China will not ease grip on property market

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China will not ease grip on property market - China - property market


BEIJING: China plans to stick to its tight property sector policies and a nationwide rebound in home prices remains unlikely, a senior official at the housing ministry said in remarks published by state media on Sunday.



The comments underscore Beijing's determination to keep a lid on rising home prices, a source of social discontent, especially in the run-up to a once-a-decade leadership transition this year.

 

To curb price rises, Beijing is urging local authorities to increase housing supply and to strictly implement a policy aimed at restricting home purchases, said the People's Daily, the ruling Communist Party's official newspaper. It quoted an unnamed official at the Ministry of Housing and Urban-Rural Development.

 

"With more affordable housing projects put into operation and market expectations kept stable, the conditions do not exist for a full-scale rebound in house prices," said the official.


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