China Must Prevent Rebound in Property Prices, Premier Wen Says
China must “unswervingly” continue
its property controls and not allow prices to rebound, the
official Xinhua News Agency cited Premier Wen Jiabao as saying.
The nation must also promote changes to real-estate taxes
and set up a long-term policy framework to control the property
market, Wen said today when he visited Changzhou city in eastern
Jiangsu province, according to the Xinhua report.
Wen’s comments underscore the government’s determination to
maintain curbs on housing purchases even as it cuts interest
rates and boosts infrastructure spending to reverse a slowdown
in the world’s second-biggest economy. China’s new-home prices
rose for the first