Monday, April 11, 2011

No real estate bubble in the Middle Kingdom...

...a continuing saga...

April 11, Chinese Premier Wen Jiabao asked local governments to
shoulder responsibilities for keeping home supplies and prices stable
in accordance with the central government’s direction.

“The central government’s goal to cool the overheated property market
is clear and that its determination is firm,” the premier said during
a visit to eastern China’s Zhejiang province.

Since the onset of this year, the Chinese government has showed
unremitting efforts to curb speculation in the property market,
including a bunch of policies to cut bank lending and restrict home

Those measures have, at least in the short term, put brakes on home
transactions in cities with home-buying restriction in place. But home
prices remain stubborn as usual, with Chongqing in southwestern China
showing the quickest rise of 107.4% week-on-week during the first week
of April, according to statistics from China Index Research Institute.

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