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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 191

China Business Intelligence No. 191

Samsung Economic Research Institute Beijing Office

Mar. 18, 2011

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With a continued boom in the property market, China's property prices have hit an all-time high. As the property market crawled out of the 2009 recession, sales volume picked up with housing prices posting record highs in April 2010. Since then, housing prices in 70 mid-sized and large cities gained 12.8 percent year-on-year, the biggest yearly growth since 2008. From the end of 2009, the State Council of China began implementing a series of property policies. Following the first property measure, the 10th Article, in April 2010, the second property measure was announced in September. China's property policy includes the following: expansion of local governments' land supply and more investment in public housing restrictions on property developers who own idle land; raising transaction taxes and mortgage rates tightening lending criteria; and banning or reducing loans to multiple home owners.

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