Government to boost Chinese property market

Facing a housing market lull which could drag China’s economy further in the backdrop of a worldwide financial crisis, Beijing is probing possibilities to loosen its macro control to activate the real estate sector.

As many as 18 Chinese cities, including Shanghai,Guangzhou,Hangzhou and Xi’an, have announced detailed policies to boost their property market, which have seen at least four months of consecutive drops in housing prices.

SOURCE: Chinadaily.com – Government to boost Chinese property market.

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