NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Biz Headlines
China sends officials to probe local property markets
Latest Updated by 2006-09-29 08:39:48
Related News
Property policy to deter overseas speculators
Property sector awaits cool-down measures
Regulations to curb property purchase by overseas hot money
Business News
China's economy to grow at 10 pct this year
China sends officials to probe local property markets
China drops to 54th on competitiveness list

China's State Council, or cabinet, is to send high-level officials to 11 provinces, municipalities and autonomous regions to check on how the central government's macro control policies aimed at cooling down property markets are being enforced.

Teams of officials from the ministries of Construction, Land and Resources, the National Development and Reform Commission and other central authorities will be sent to Beijing, Tianjin, Liaoning, Inner Mongolia, Jiangsu, Jiangxi, Shandong, Hubei, Guangdong, Sichuan and Shaanxi.

The government began issuing policies in 2003 to stabilize the runaway property market.

Housing prices in many cities, however, have continued to soar. Some have reported annual rises of 20 percent.

In the face of rising public concern, the government earlier this year penned tougher policies, ordering local governments to increase the supply of cheaper and government-subsidized homes, and imposing controls on property ownership by foreigners.

In a related development, the Ministry of Construction has sent its own teams of officials to Shanghai and seven other cities to investigate the local property markets.

A six-member team arrived in Shanghai on Sept. 25, where they met with local officials and residents, and toured property projects.

China's central government has tightened controls over defiant local authorities ignoring the macro control policies.

On Wednesday, a State Council meeting chaired by Premier Wen Jiabao decided to give a "serious warning" to two provincial leaders in central China's Henan province for allowing the use of almost 1,000 hectares of farmland for a school campus despite the objections of central authorities.

A month ago, the chairman of the Inner Mongolian regional government and his two deputies were disciplined by the central government for failing to stop the building of an illicit thermal power station with a total investment of over 300 million U.S. dollars.

The government's stern measures seem to have produced results.

Figures from the National Bureau of Statistics show the growth of China's urban fixed-asset investment declined in both July and August. The growth in the supply of broad money also dropped in August.

The situation in the housing sector has also improved slightly. NBS figures show that housing prices in 70 major cities rose by 5.5 percent in August, down 0.2 percentage points from July.

Editor: Donald

By: Source: China View website
Previous:  China's economy to grow at 10 pct this year  Next:China drops to 54th on competitiveness list


Reception held to mark 57th founding anniversary of PRC


Early bird catches the fish


Yangyuan Stone looks like male genital


Nuclear power plant to boost equipment manufacturing industry


Documentary film Yuanmingyuan
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips