Quotable

"China does not regard its property market as a pillar sector for its economy. Instead, the central government considers the construction industry as a pillar one."

Zhu Zhixin, vice-minister of the National Development and Reform Commission, made the remark on Sunday at the China Development Forum in Beijing, in response to the widespread misunderstanding of the importance of the housing market. Zhu said the main point is to guarantee housing to meet the needs of low-income citizens.