Date
20 September 2017

Property crash ‘unlikely in next decade’, paper says

China’s property market is unlikely to crumple over the next decade, given the existing rate of urbanization, the China Securities Journal reported Friday, citing vice minister of housing and urban-rural development Chou Baoxing. Addressing the National People’s Congress and Chinese People’s Political Consultative Conference in Beijing Thursday, Chou also said that without property market regulation some cities could experience the market fluctuations seen in Ordos, Wenzhou and Hainan province. According to the National Bureau of Statistics, the rate of increase in home prices in 70 of the country’s major cities has flattened over the last few months, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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