[photopress:quixhaoho.jpg,full,alignright]Qiu Xiaohua, the director of the National Bureau of Statistics said that China is unlikely to launch new measures to rein in rapid economic growth because signs are emerging that fixed-asset investment is slowing and rising property prices have moderated.
He said, ‘As the measures that have been put into place are effective, we will continue with them and keep a close eye on their outcome to ensure better implementation.’
Property prices climbed 5.5 percent year-on-year in August, slightly lower than the 5.7 percent and 5.8 percent rises in July and June.
Qiu Xiaohua attributed the slowdown to the effectiveness of controls, adding that the economy can achieve sustainable growth.
But he said property prices will continue to go up in the long-term but at a slower pace because of rising land prices, higher compensation and relocation fees and stronger demand for better housing from ‘real end-users’ owing to higher living standards.
He said, ‘Due to the country’s limited land resources and growing demand for housing, property prices in China are bound not to be cheap.’
Source: China Daily