16 Dec, 2012
China to continue property controls in 2013
BEIJING, Dec. 16 (Xinhua) — China will continue its property market control policies next year, according to a statement issued Sunday after a two-day central economic work conference held in Beijing.
The country will step up the construction and management of low-income housing, as well as the renovation of run-down areas, according to the conference, which charts the course for the following year’s economic work.
Stubbornly high real estate prices have been a significant source of public complaint in recent years, forcing the government to implement a string of policies to keep prices down.
However, the property market has shown signs of warming in recent months, as the government has also taken measures to shore up growth.
Official data showed that more Chinese cities saw home prices rise in October from September.
The People’s Bank of China, or the central bank, cut benchmark interest rates twice earlier this year, as well as lowered the amount of cash that banks are required to set aside as reserves, to bolster the slowing economy.
Weighed by flagging exports and domestic efforts to curb property market speculation, China’s economic growth slowed to 7.4 percent in the third quarter of the year, the lowest growth rate in more than three years.
Real estate investment accounts for about 13 percent of China’s gross domestic output and one-fifth of the country’s fixed-asset investment.
China has reiterated its firm stance regarding property market controls and vowed to keep tightening measures in place, including bans on third-home purchases and property tax trials that have been introduced since 2010.
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More investment to boost Chinese economy next year
BEIJING, Dec. 16 (Xinhua) — China will encourage and increase both private and public investment next year to effectively bolster the country’s economic development, said a statement issued Sunday after a two-day central economic work conference closed.
While encouraging and providing better guidance to private investors, the government will increase public investment on infrastructure projects that will not cause repetitive construction but set foundations for long-term development and benefit people’s well-being, it said.
Chinese leadership vows to avoid pomp
BEIJING, Dec. 16 (Xinhua) — Chinese leaders must avoid pomp and circumstance, and take concrete actions to “serve the people wholeheartedly,” said a statement issued Sunday after a two-day central economic work conference in Beijing.
China vows to protect foreign investors’ interests
BEIJING, Dec. 16 (Xinhua) — China vowed to continue to protect foreign investors’ rights and interests and their intellectual property rights, according to a statement issued Sunday after a central economic work conference closed.
The country will step up its effort to stabilize foreign direct investment inflows while expanding its outbound investment next year.
China to advance urbanization next year
BEIJING, Dec. 16 (Xinhua) — China will actively and steadily push forward urbanization next year, with a focus on improving quality of the efforts, according to a statement issued Sunday after a two-day central economic work conference in Beijing.
China to expand domestic demand next year
BEIJING, Dec. 16 (Xinhua) — Expanding domestic demand will be a strategic basis for China’s development next year, said a statement issued Sunday after a two-day central economic work conference closed.
New growth points should be created in domestic consumption, which will serve as both a strong pulling power and foundation for the sustained and healthy development of the country’s economy, it said.
China to maintain prudent monetary policy in 2013
BEIJING, Dec. 16 (Xinhua) — China will continue to implement the proactive fiscal policy and prudent monetary policy in 2013, according to a statement issued Sunday after the closure of a two-day central economic work conference.
China to firmly promote economic reforms, opening-up
BEIJING, Dec. 16 (Xinhua) — China will fully deepen reforms in its economy system and firmly promote opening-up next year, according to a statement issued after the conclusion of the annual central economic work conference on Sunday.
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