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New real estate elephants

China Daily | Updated: 2010-03-18 07:48

The unchecked surge of real estate invest-ment by large State-owned enterprises (SOEs) not only sabotages the central government's efforts to prevent housing bubbles but raises questions about the SOEs.

Chinese policymakers should act immediately to bridle these new elephants who are stirring up more trouble in the overheated property market.

In spite of all the government's tough talk against excessive home price hikes, the record land price for residential housing in Beijing was broken twice on Monday thanks to aggressive bids by State-owned enterprises.

New real estate elephants

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