Chinese Premier Wen Jiabao called on local authorities to “decisively” curb real estate speculation and take steps to rein in the property market after data showed prices surged the most in two years last month.
Cities that have had “excessively fast” price gains should promptly impose home-purchase restrictions if they’ve not done so already, China said in a statement released yesterday after a State Council meeting headed by Wen. Provincial capitals and municipalities reporting directly to the central government should also publish annual price control targets to keep new- home costs “basically stable,” according to the statement.
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Zhang Dingmin, Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/t2x7qmejPnE/
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