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BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao on Friday reiterated determination to curb the excessive growth of home prices in major cities and satisfy people's basic need for housing.He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC), China's top legislature, which is the latest demonstration of the government's determination to tame the runaway home prices.Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010Wen promised an increased supply of low-cost housing and common residential houses, restraining of speculative purchase, tighter land use management and stricter control of bank credit.A total of 63.2 billion yuan (9.25 billion U.S.dollars) will be spent by the central government in low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.The government will also build 3 million housing units for low-income families and renovate 2.8 million shanty units, he said.Wen's remarks indicate the government's regulation target in the real estate sector this year, which will emphasize on satisfying demand of mid- and low-income families while ensuring a healthy development of the market, said Gu Yunchang, vice president of China Real Estate Research Association."To curb the excessive growth of home prices is a must for the healthy development, or else the foaming market would bring destructive consequences to the industry," said Gu.China's central and local governments has begun to take moves to deflate the housing bubble since late last year, including reimposing a sales tax on homes sold within five years of their purchase and raising down payment requirement for families buying a second or more houses with bank loans.In another move to cool the property market, the People's Bank of China, the central bank, announced twice within a month to raise the deposit reserve requirement ratio earlier this year.During an online chat with the Chinese Internet users last week, Wen expressed his confidence in the government measures in response to complaints over soaring home prices."It is the government's responsibility to guide the property market. I am confident that the government will ensure the healthy development of the property market," he said.
BEIJING, Feb. 23 (Xinhua) -- China's Ministry of Public Security Tuesday urged police nationwide to take initiatives in cracking serious crime cases and solving social conflicts to ensure a safe World Expo in Shanghai.Vice Minister Huang Ming said police should seriously crack down on illegal activities, including illegal use of guns and explosives, kidnapping of children and women, gang-related crimes and online pornography.Police in Shanghai and its neighboring regions were asked to reinforce security measures and increase street patrols, and mobilize local residents to ensure a safe environment for the upcoming World Expo.Huang said the police should learn from Beijing's experience of successfully safeguarding the 2008 Beijing Olympic Games and the celebrations for the 60th anniversary of the founding of the People's Republic of China in 2009.Police were also asked to visit grassroot level communities and villages to find prominent problems and help relevant authorities settle disputes.Shanghai's neighboring provinces, Jiangsu, Zhejiang, Anhui, Jiangxi, Fujian, Shandong, Henan and Hubei, would reinforce security checks in air flights and trains, Huang said.Huang also urged the police to enforce the law in a reasonable and civilized manner and minimize disturbances to the public.The World Expo, to be hosted by China for the first time, will run from May 1 to Oct. 31. To date, at least 192 countries and 50 international organizations have confirmed their participation in the event that will present the latest advances of architecture and engineering worldwide.
BEIJING, March 18 (Xinhua) -- China's government is set to order some central state-owned enterprises (SOEs) to quit real estate business as their land acquisitions are blamed for fuelling rise of urban housing prices, spokesman of the state assets watchdog Du Yuanquan said Thursday.The State-owned Assets Supervision and Administration Commission (SASAC) would require 78 centrally-administered SOEs, whose major business was not property development, to withdraw from the business, Du said in a SASAC press conference Thursday in Beijing.The SASAC gave no specific timetable for the withdrawal, but Du said it would require the 78 enterprises to step up business restructuring and gradually pull out of property development after all current real estate projects were finished.Housing prices in China's 70 large and medium-sized cities grew 10.7 percent in February from a year earlier, and were up 0.9 percent compared to the previous month, according to official figures.However, a total of 16 central SOEs, who have property development as major business, such as the China National Real Estate Development Group Corp. and the China Poly Group Corp., would continue in real estate, said Du.
CAIRO, March 25 (Xinhua) -- Senior Chinese legislator Wang Zhaoguo, who is on a four-day visit to Egypt, met here Thursday with Egyptian Prime Minister Ahmed Nazif, discussing ways to strengthen strategic cooperation between the two countries.Wang, vice-chairman of the Standing Committee of the National People's Congress (NPC), China's top legislative body, led an NPC delegation to Egypt for an official goodwill visit starting from Tuesday afternoon.Wang said Egypt and China are important developing countries and the two peoples will benefit from the progress of bilateral ties."We should boost our cooperation in agriculture, culture, education, science and technology, health care and tourism in the coming years," Wang said.For his part, Nazif said Egypt has witnessed China's huge achievements through reforms and opening up and China plays an important role in world affairs."Egypt attaches great importance to the strategic cooperation with China and I hope our cooperation in various fields will bear more fruit in the future," Nazif said.Wang, who is also a member of the Political Bureau of the Central Committee of the Communist Party of China, hailed the strategic friendship between China and Egypt, noting that bilateral relationship has been developing faster in recent years under the auspices of both heads of state."The China-Egypt friendship is a good example for developing countries and South-South cooperation," Wang said.China and Egypt established strategic cooperation partnership in 2009. Bila
BEIJING, Feb. 26 (Xinhua) -- The China Banking Regulatory Commission (CBRC), the banking regulator, said Friday it would introduce four measures to facilitate the development of rural financial institutions.The CBRC would improve supervision of rural financial institutions, strengthen risk management, encourage their adopting effective corporate governance model, and evaluate the quality of their services, said Zang Jingfan, the supervision department director of the CBRC.China approved a total of 172 new-type rural financial institutions, including 148 rural banks, 8 lending firms and 16 rural mutual cooperatives by the end of 2009, according to Zang.Outstanding loans by these institutions totaled 18.1 billion yuan, of which 36 percent went to farmers and more than 50 percent to small businesses, he said.The government has been trying to boost lending to farmers and companies in the countryside, and the CBRC announced last year a plan to set up 1,293 rural financial institutions by 2011 to boost rural development.