Chinese Premier Wen Jiabao held an online chat with netizens jointly hosted by the central government website and Xinhua website in Beijing. He said he hoped to see a stable and healthy development of the country’s real estate sector in the face of the global financial crisis.
He said that China should strengthen management and regulation to keep housing prices and the scale of property construction ‘at a reasonable level’ during an online chat on two state news portals — the Central Government Website and the Xinhua News Agency website.
Wen said the government highly values the property industry as it concerns the life of ordinary people and directly affects the national economy.
Wen Jinbao said the government has urged for stronger confidence in the real estate market while pledging more money and energy on meeting the needs of low-income families, he said.
Windows of China reported that he said the government fund must be used properly to ensure house buildings are economical, safe and of good quality. He also noted the construction should save land and suit people’s needs.
‘Auditing and supervision should go along with all property projects,’ said Wen. ‘Problems must be dealt with whenever they emerge.’
The Chinese government announced a stimulus package for the ailing property industry in December, giving favorable tax policies and loan terms on home sellers and buyers while emphasizing low-income housing.