BEIJING: China will not tolerate speculative buying in its red-hot property market and will keep up a slew measures to calm prices, Chinese Vice Premier Li Keqiang was quoted by state television as saying on Tuesday, Dec 28.
Li, who is widely seen as a candidate to succeed Premier Wen Jiabao, also urged local governments to build up to 10 million units of affordable housing next year.
"China will unswervingly stick to the property control measures in 2011," Li said.
Measures the government have taken in the past include restrictions on land sales, raising mortgage rates and tightening rules for tax exemptions on property sales.
But despite official efforts to cool the house market, property prices in China have stayed stubbornly high, fuelling public discontent. [ID:nL3E6NS0CD]
In a nod to the increasing unaffordability of property, Li reiterated that China will put inflation, which is at 28-month highs, at the top of its agenda in 2011. - Reuters
Li, who is widely seen as a candidate to succeed Premier Wen Jiabao, also urged local governments to build up to 10 million units of affordable housing next year.
"China will unswervingly stick to the property control measures in 2011," Li said.
Measures the government have taken in the past include restrictions on land sales, raising mortgage rates and tightening rules for tax exemptions on property sales.
But despite official efforts to cool the house market, property prices in China have stayed stubbornly high, fuelling public discontent. [ID:nL3E6NS0CD]
In a nod to the increasing unaffordability of property, Li reiterated that China will put inflation, which is at 28-month highs, at the top of its agenda in 2011. - Reuters
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