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State Council Announces New Regulations to Control the Real Estate Market

People’s Daily reported on January 27, 2011, that the State Council Executive Meeting chaired by Chinese Premier Wen Jiabao just announced eight new regulations for the real estate market: (1) Take it one step further and hold local governments responsible for achieving stabilization of the real estate market; (2) Have the Housing Project for Low-Income Families initiate new construction; (3) Adjust the relevant tax policies; (4) Improve differentiated home loan policies for different types of families; (5) Strictly manage the supply side of land available for housing; (6) Reasonably guide the demand side of the housing market; (7) Implement mechanisms for government officials’ accountability; (8) Continue to guide the media as well as public opinion.

Source: People’s Daily, January 27, 2011