End dependency on land sales

The real estate markets in China's major cities are showing signs of cooling down, as indicated by the housing price data recently published by the National Bureau of Statistics.

Such a positive trend is the result of the strict regulatory measures adopted since late September. However, it is still an uphill task for the government to really realize the target that "houses are built for inhabitation, not for speculation", which the central government stressed at the just-concluded Central Economic Work Conference.

Whether the regulatory measures adopted by the authorities will check realty speculation remains to be seen.