HenryTo
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Joined: 06 Aug 2004
Posts: 11732
Location: Los Angeles, California
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 Posted: Sat Jan 14, 2006 11:25 am Post subject: China 2006 real estate sales growth to slow to 20 pct |
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The key point in this article is that the Chinese government will continue restrict activity in the real estate sector - despite the recent slowdown. Investors in copper, steel, etc., better beware.
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China 2006 real estate sales growth to slow to 20 pct - NDRC
01.11.2006, 08:15 PM
SHANGHAI (AFX) - Property market sales growth in 2006 is expected to slow further to about 20 pct from 30 pct a year earlier, as the government maintains measures intended to keep the sector from overheating, according to the country's top economic planning agency.
The property boom has ended and the sector's slowdown may continue, the National Development and Reform Commission (NDRC) said in a research report published on the official China Securities Journal.
The NDRC proposes that the government continue with restrictive policies on land supply, credit and taxes to keep the bubble from re-emerging in the property sector.
'The current round of correction (in the sector) is expected to last for at least three years. It's not realistic to expect another boom in one or two years' time,' the report said.
The report also expects an increase in non-performing assets held by banks, with small- and medium-sized property developers squeezed out of the market due to lack of liquidity. |
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