[photopress:Shanghaichinarealestate.jpg,full,alignright]China’s foreign exchange regulator said policies restricting foreign investment in the property market are having an ‘active’ effect on the market.
Hu Xiaolian, the head of the State Administration for Foreign Exchange, said, ‘The new policies which are aimed at controlling foreign investment entering the real estate market, particularly those controls on speculative funds, have been showing an active impact.’
In July, China’s cabinet approved regulations curbing foreign capital inflows into the real estate market to help rein in surging overall investment in the sector. Since then there have been some spots where the prices have sagged but, generally, it has been a continued upward surge. On the other hand Hu Xiaolian has access to figures not immediately available to the media.