China moves to cool housing market
Leadership seeks to find a balance between stabilising prices and avoiding a crash.
Published On 6 Mar 2010
China’s real-estate boom has further deepened the divide between the haves and the have-nots as the country’s middle class struggles with soaring property prices.
Wen Jiabao, China’s premier, has pledged measures to curb speculation in the country’s housing market and rein in soaring prices. But with real estate accounting for 10 per cent of GDP, changes may not be welcomed by investors.
The dilemma for Chinese leaders is finding a balance between their need for prices to stabilise while avoiding a property price crash.
Al Jazeera’s Melissa Chan reports from Beijing.