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China Pledges to Tackle Housing Problem in Biggest Cities
Bloomberg 3/5/2021
(Bloomberg)
China pledged to solve the housing problem in large cities at its top legislative session, as monetary loosening after the pandemic spurred a rush to real estate in the biggest hubs, pushing home affordability there to the worst ever.
“We will address prominent housing issues in large cities,” Premier Li Keqiang told the National People’s Congress in Beijing on Friday. “We will make every effort to address the housing difficulties faced by our people, especially new urban residents and young people.”
Li repeated President Xi Jinping’s mantra that houses are “for living in, not for speculation” in the key report, signaling that policy makers may maintain a tight rein on the bubble-prone sector. “We will keep the prices of land and housing as well as market expectations stable,” he said.
The Straits Times
Existing-home prices of certain popular projects in Shanghai surged more than 30 per cent last year.PHOTO: EPA-EFE
PublishedMar 2, 2021, 2:23 pm SGT
https://str.sg/JV7u
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China âworriedâ about bubbles in property, foreign markets 2 min. 02.03.2021 Regulators are watching capital inflows into China Beijing s central business district Photo credit: AFP
Chinaâs top banking regulator said heâs âvery worriedâ about risks emerging from bubbles in global financial markets and the nationâs property sector, sparking fresh concerns about further tightening in the worldâs second-biggest economy. Stocks dropped across Asia.
Bubbles in US and European markets could burst because their rallies are heading in the opposite direction of their underlying economies and will have to face corrections âsooner or later,â Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank said at a briefing in Beijing on Tuesday.
The Straits Times
Most Chinese cities limit home-buying demand by capping the number of properties a family can own.PHOTO: REUTERS
PublishedJan 22, 2021, 2:12 pm SGT
https://str.sg/JzyG
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