China moves to cool housing market

Leadership seeks to find a balance between stabilising prices and avoiding a crash.

    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.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.