RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Business Highlights Tools: Save | Print | E-mail | Most Read | Comment
'Inflection point theory' reignites controversy
Adjust font size:

Recently at a real estate industry ceremony, Wang Zhongming, the director of the Economy Research Center of the State-owned Assets Supervision and Administration Commission, denounced the recurring "inflection point theory", by saying, "It's too early to comment on the so-called inflection point for real estate; it would be misleading the public." 

Lots of journalists have already reported that "housing prices are going down" and "the inflection point has arrived", but Wang said this is severely underestimating the hardships associated with macro-economic controls.

However, Chen Gang, the deputy mayor of Beijing, said in a recent interview that he has confidence in the upcoming "inflection point". He also expressed his happiness for the drop in formerly rising housing prices, asserting, "It's good news." Feng Lun, the Chairman of the Chinese property giant the Vantone Group, said that the real estate industry has entered a market structure adjust phase, according to recent policies and subsequent market responses.

Wang Shi, the Chairman of another property giant China Vanke Co., Ltd., is the first man who raised the "inflection point theory". He said in an interview with Sina.com yesterday that concerning the "inflection point" he thought that housing prices would return to reasonable positions. At the same time, he suggested that a man should rent houses until he's 40 years old before determining his final career. He also advocated that young people should rent houses before buying even when they plan to marry.

As the government insists on controlling the property market, currently more research institutes are expecting a stable increase of housing prices in 2008, amid the relative declines of anticipations, along with a partial overdraft of purchasing power and some big drops in trading volumes.  

For more details, please read the full story in Chinese. (http://www.cnstock.com/newcjzh/fangdi/2008-01/28/content_2977388.htm)

(China.org.cn January 29, 2008)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Housing costs stable but builders face woes
- 'Myth of unbeaten land' crashes
- CAS: China's housing prices to keep on rising in 2008
- Prices of Shanghai's 1/3 homes rise
Most Viewed >>
-January CPI expected to rise 6.5%
-Lucrative Yuanmingyuan duplication scheme
-Lenovo to sell mobile unit for US$100m
-Tight monetary policy must not be eased
-Emergency coal shipped to power plants in S China

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- 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?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号