China will increasingly manage its troubled property sector locally, as the nation seeks to avoid causing either an abrupt slowdown that undermines the economy or another surge in prices, according to government economists involved in policy discussions.
After increasing at double-digit rates through most of last year, home prices started easing in late 2013 as a sustained campaign to clamp down on speculative investment and easy credit gained traction.
The annual growth in average prices for new homes slowed to an 11-month low in April, official data showed Sunday. Existing home prices dropped from a month earlier in 22 of 70 cities in April, compared with 14 in March.
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Kevin Yao, Reuters via CHINA US Focus http://ift.tt/1j2w3Wc
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