China to strengthen price management in property

CHINA: China will strengthen price management for the remaining year on expectations of lower inflation, director of the National Development and Reform Commission Zhang Ping said in a report delivered to the National People’s Congress.

According to ShanghaiDaily.com, which reported Zhang's statements on Friday, Aug 27, the government will use multiple monetary policy tools and further improve liquidity management, and continue to guide credit growth.

Zhang said that property prices in major cities remain high, and that the Chinese government will continue on with its tight property policies. In April this year, the government carried out stricter policies by raising down-payments and restricting lending in an effort to curb property speculation.

“China will continue to implement policies to curb speculation in the property sector and boost home supply in the second half,” he noted.