男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

  Home>News Center>China
       
 

Real estate sector cools as brakes work
By Liu Jie (Chian Daily)
Updated: 2004-06-19 11:07

The central government's efforts to control the overheated real estate industry have produced initial results, with growth rates for property investment, new building areas and redevelopment projects all dropping slightly in the first five months of this year.

According to the National Bureau of Statistics, combined real estate investment amounted to 370.3 billion yuan (US$44.61 billion) from January to May. This was a rise of 32 per cent from the corresponding period in 2003, but the rate of growth fell 0.9 percentage points.

At the same time, a total area of 64.8 million square metres was developed, and developers bought another 123.8 million square metres as reserve, up by 19.8 per cent and 9.8 per cent from the same period of last year respectively. The growth rate dropped 22.1 and 46.9 percentage points compared with a year earlier.

Ji Rujin, vice-director with the Real Estate Research Institute at Tsinghua University, said the growth rate decline indicated that the central government's tough measures, including some administrative intervention, has begun to cool the steaming property industry.

On February 26, the China Banking Regulatory Commission issued a set of draft rules to strengthen the supervision of real estate loans, ranging from land trading and real estate development loans to individual housing and apartment mortgages.

Adhering to the central government's policy, some local governments issued supplementary regulations. These included bans on the sale of pre-completion properties and the contractual transfer of State-owned land to private developers in an attempt to limit property speculation.

"As those measures have been in place for less than three months, the effect cannot be notable. The industry will turn to a sound track in a period of time," said Ji.

Yang Shen, president of the China Real Estate Industrial Association, said a drop in the growth of banking loans for property suggested the investment structure was improving.

Of the combined 617.3 billion yuan (US$74.37 billion) raised by property enterprises in the first five months, 140.8 billion yuan (US$16.96 billion) came from the banks. This figure was up 17.6 per cent compared to a year earlier, representing a growth rate slide of 33.7 percentage points.

"Narrowing the banking loan scale may facilitate the banks reducing high risks and curbing speculation by estate developers," said Yang.

But while the enthusiasm for real estate development has started to dampen slightly, housing sales continue to surge. A total of 83.1 million square metres of commercial housing was sold in the first five months of this year, an increase of 30.9 per cent from the corresponding period in 2003.

Meanwhile, the average housing price hiked 8.3 per cent to 2.708 yuan (US$326) per square metre nationwide. Office and commercial property prices surged even higher, up 22.5 per cent and 12.8 per cent respectively.

Chang Xiuze, a researcher with the State Development and Reform Commission's Macro-economy Research Institute, attributed the booming market to promotion by developers and Chinese consumers' preference for investing in assets in the current economic environment.

"As the bank fund-raising channel has been tightened, the developers are eager to realize cash for new projects," said Chang.

More significantly, an increasing number of consumers have found the current bank interest rate level unsatisfactory and have become reluctant to make new deposits.

With limited investment channels in China, consumers are choosing to pool money into the property market.



 
  Today's Top News     Top China News
 

China, US reach deal to expand aviation services

 

   
 

Energy still bottlenecks Chinese economy

 

   
 

US to slap tariffs on Chinese furniture

 

   
 

President Hu ends 'fruitful' 4-nation tour

 

   
 

US missiles kill 16 Fallujah residents

 

   
 

Carmaker recalls Mazda6 sedans

 

   
  President praises Sino-Singaporean ties
   
  China, US reach deal to expand aviation services
   
  US to slap tariffs on Chinese furniture
   
  Quasi-free trade zone being built along border
   
  President Hu ends 'fruitful' 4-nation tour
   
  QDII programme to be tested
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  When will china have direct elections?  
Advertisement
         
主站蜘蛛池模板: 巢湖市| 浦江县| 本溪市| 荔波县| 和林格尔县| 安龙县| 蒙山县| 卢龙县| 东港市| 张家口市| 当雄县| 剑阁县| 灵台县| 乐昌市| 淮安市| 平遥县| 永福县| 来安县| 衢州市| 彭泽县| 卓资县| 徐水县| 庄河市| 黄浦区| 徐水县| 东兰县| 靖安县| 穆棱市| 龙井市| 乌海市| 台北市| 清河县| 沂南县| 卓尼县| 清河县| 新昌县| 竹山县| 建阳市| 柳林县| 兴国县| 广州市|