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Chinese Newspaper Says Reports that Property Prices Will Collapse Are Not Credible

On October 21, 2013, Qilu Evening News (, the biggest official newspaper in Shandong Province in the People’s Republic of China, published an article commenting on reports that “Property Prices Will Collapse,” a message currently circulating on the Internet. According to this message, the Chinese Communist Party Central Committee has sent out an internal early warning that property prices in 15 cities, including Qingdao and Yantai in Shandong Province, will collapse. Most of the 15 cities are on the east coast of China.

The Qilu Evening News article challenged the credibility of the Internet message by listing a series of statistical data, including the data released by the National Bureau of Statistics of China, which has shown a steady increase in property prices in China, particularly in Qingdao, Yantai, and on the east coast. 

Source: Qilu Evening News, October 21, 2013