Xinhua recently reported that Chinese Premier Wen Jiabao spoke about the housing market during his visit to Jiangsu Province. Wen stated that the government initiated housing market adjustment has reached a key stage and that “the task remains difficult.” He emphasized that it is a long term government policy to suppress speculative investments in the housing market. He also suggested that information regarding the housing market is a bit out of control right now and the general public is still worried about a potential rebound in prices. Wen asked the local governments not to implement new policies that would move the market in a different direction. He also asked the suppliers to adjust product strategies to offer more regular lower-priced commercial real estate in the general market. During his visit, Wen also mentioned the planned reform of the real estate tax system, which is considered part of the control system for the future housing market.
Source: Xinhua, July 7, 2012