No relaxing measures to cool house prices

ON AUG 17, the Ministry of Housing and Urban-Rural Development talked with the leaders of five municipal governments, urging them to strengthen their macro control over the local housing market. China Youth Daily comments:

The ministry's meeting with the five local leaders sent the unmistakable message that the central leadership is determined to control the real estate market, prevent housing prices from rising too abruptly, and ensure that houses are for living in, not for speculation.

The real estate market has long been used as an important tool for local economic growth in China, and local governments tend to relax their housing policies when economic growth slows.