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Politburo: Maintain Strong Control of the Real Estate Market

According to China Review News (CRN), a Politburo meeting chaired by Hu Jintao on July 22 reported that China’s general economic health is positive, but the issues of imbalance, inconsistency and unsustainability are still very pronounced. New issues are also coming up due to the changes in the international and domestic environments. The primary goal of macroeconomic management is to stabilize the overall consumer price level, which includes maintaining strong control over the real estate market. The meeting also emphasized the firm position of lowering the rate of increase in housing prices and speeding up the development of low-income housing projects. The meeting called for unifying all thoughts and actions on all administrative levels towards the direction that the Party Central Committee pointed out.

Source: China Review News, July 22, 2011