Economy

China won't relax property measures

(Agencies)
Updated: 2010-08-02 11:19

China won't relax property measures until they have effectively controlled home prices, the China Securities Journal reported today, citing Wang Juelin, deputy director of the policy research center at the Ministry of Housing and Urban-Rural Development.

Related readings:  Land supply up 135% in 1st half year  Property tightening policies to continue  Outstanding loans to property market up 40% by end of June  China runs stress tests on property trusts: rpt

Most cities have been slow in issuing policies to rein in local property markets, the newspaper reported, citing Wang. China also needs to increase the supply of homes, Wang was cited as saying.

The government needs to maintain the stability of policies to reduce expectations that efforts to rein in the property market will be relaxed in the second half, the newspaper reported, citing Wang. Many individuals are refraining from buying now as they expect policies to be relaxed in the second half, Wang was cited as saying.