Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
US sub-prime crisis not to drag down China's real estate sector
Adjust font size:

The spreading sub-prime crisis in the United States was unlikely to have a serious impact on China's real estate sector, said an economist in the Real Estate Dialogue held Friday on the sidelines of the Boao Forum for Asia 2008 annual conference.

Chen Huai, dean of the policy research office of the ministry of housing and urban-rural construction, also denied that China's real estate sector is in the trough.

"The process of urbanization in China is a long-term strategy that will last 20 to 30 years, it will not be easily affected by individual events such as the American sub-prime crisis and the Olympic Games," Chen said.

The US sub-prime mortgage crisis became a heated topic at the Dialogue. Some speakers worried that the crisis would spread to other areas in the world, including China, where the real estate sector would face a fairly difficult time.

"I don't think China's real estate industry will really drop," Chen said. The crisis would not bring a "winter" for China's real estate industry, because "it's not Chinese banks that granted mortgage to the US people, and it's not the Chinese people who have borrowed from the US banks," said Chen.

The Boao Forum for Asia Annual Conference 2008 is slated for April 11 to 13. The theme of the conference is "Green Asia: moving towards win-win through changes".

(Xinhua News Agency April 12, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- China should be cautious of US subprime crisis
- US subprime crisis has limited impact on China's economy
- US subprime crisis casts a shadow on China's exports
- Deutsche Bank: Subprime Crisis Has Limited Impact on China
Most Viewed >>
- 2007 GDP growth revised upward to 11.9%
- Yuan breaches 7 mark against US dollar
- Trade surplus shrinks 10.8% in 1st quarter
- Nuclear power firms  to get tax rebate
- China to inject 20 bln yuan into 1st jumbo jet company

April 11-13 Boao Forum for Asia

May 15-17 Shanghai Women's Forum Asia

Dec. 12-13 Beijing
China-US Strategic Economic Dialogue

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?