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Experts debate on whether to loose property policies

08-23-2010 10:50 BJT

Government regulations rolled out in April, targeting the sizzling property market, has effectively cooled down the market. But in terms of whether it's time to put a brake on those measures, experts have complex views.

Some experts say China's property trade volume has shrunk. Plus, China's economic development has slowed down. So it's time to loosen those property policies, and postpone other real estate tightening measures.

But there are other experts who don't agree. They say the current effects of those tightening measures hasn't lived up to the public's expectations.

Yi Xianrong, Researcher of Financial Research Center, CASS said "It's quite apparent the market will bolster a larger trade volume when the public can afford to purchase a house. So the influence it's cast on construction materials, steel and other industries will definitely be much wider than the period when prices are high."

Some experts say the current measures haven't been enforced effectively, given that prices in some cities remain high.

Zhao Xijun, Director of Land Planning Research Center, Renmin University said "The current measures haven't fully achieved their expected purpose. Although property prices in some first tier cities have tumbled, they still maintain at a high level. In some second tier cities, property prices have shown signs of bouncing back."

Experts say although the government's real estate measures have burst some bubbles on the market, a healthy property market requires systematic adjustments covering land supply, affordable housing policies and vacancy rate controls.

Yi Xianrong said "We should aim at turning the property market from a speculative one to a consumption-oriented one. One standard for that is reaching property prices that can be accepted by the majority of residents."

Most experts are expecting more macro-control measures to be unveiled by the government later in the year, in order to make prices more acceptable for ordinary Chinese.

Editor:Xiong Qu |Source: CNTV.CN

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