Shanghai to curb housing market price hike
( 2003-12-05 02:12) (Xinhua)
Shanghai Mayor Han Zheng announced Thursday that the municipal government
would overhaul its booming real estate market and provide more affordable houses
in order to control the rapid housing price hike in China's biggest city.
"Housing prices this year have increased fairly fast in Shanghai," Han said
in his keynote speech at the 12th Annual Asia Leadership Forum which opened in
Shanghai Thursday with the sponsorship of Business Week magazine.
"We need to regulate and control the housing market since some problems have
emerged from its recent development," Han said, referring to the sharp rise in
prices.
He said the abrupt ups and downs in the housing market would put the
interests of investors, consumers and citizens in peril.
"This is unhealthy," he said, urging to build more affordable houses to bring
down the prices for the salaried people.
Han said the municipal government would also introduce more transparency into
the market beginning from opening lands for bidding.
The municipal government will publish a new policy in the near future to ban
the speculation on houses under construction and establish an early warning
system on the housing market, said Jiao Yang, a spokesman for the municipal
government.
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