Tight lid on property prices

Easing the housing bubble will benefit economy and millions of ordinary people across the country rather than speculators

The recent reiteration by the top authorities that they will press ahead with the tightened real estate regulatory policies has disheartened developers who wanted the tight lid on the domestic housing market to be lifted amid signs of an economic slowdown.

At a press conference after the closing of the annual session of the National People's Congress on March 14, Premier Wen Jiabao told Chinese and foreign reporters in a straightforward manner that China's current house prices are still far from returning to a reasonable level and the country will not slacken efforts to regulate the sector.