[photopress:real_estate_Cao_Changqing__1.jpg,full,alignright]Cao Changqing, director of the price department at the National Development and Reform Commission and seen here, said in an online interview that property prices in 70 major Chinese cities rose 10.5% year-on-year in November.
Prices in the same cities were up 7.3% year-on-year in the 11 months to November.
Cao Changqing said the cabinet, the State Council, will increase land supply and low-rent housing among other measures designed to lower property prices.
On a hopeful note he said prices in some cities, like Shenzhen and Guangzhou, have shown some declines recently. Source: Forbes