China’s housing ministry doesn’t support high property prices, a vice minister, Qi Ji, seen here, said when asked about the possibility of a price bubble in the domestic real-estate market.Pent-up demand and easy credit have boosted real-estate sales and prices this year, raising concerns about bubbles forming, which could push housing prices beyond the reach of ordinary people.
Nasdaq reports that speaking at a press briefing, Qi, a vice minister at the Ministry of Housing and Urban-Rural Development, urged local-level authorities to provide more low and mid-price housing to help people form reasonable expectations of housing supply.