At the end of 2006, the average house price in Beijing was 9,267
yuan per square meter; this June it increased to 10,280 yuan per
square meter. Housing prices in Guangzhou and Shenzhen have now
risen to over 11,000 yuan per square meter. These hikes can be seen
across China, and show that housing prices have not yet been taken
under control by the central government's assorted price-harnessing
measures.
Yi Xianrong, a scholar with Chinese Academy of Social Sciences
points out that houses are not only consumables but also an
investment in China. Therefore, every governmental department and
local government inclines to make their own house price policies in
favor of their own needs, he reveals. These policies are issued by
different governmental departments; however, they are not
compatible with one another and often counteract the effects of the
central government's measures, leaving house prices soaring, says
Cao Ruhai, a teacher with Central University of Finance and
Economics.
For more details, please read the full story in Chinese. (
http://paper.people.com.cn/scb/html/2007-07/18/content_13420328.htm)
(China.org.cn July 18 2007)
