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Chen Sheng, president of the China Real Estate Data Academy, said an important part of next year's property focus is the emphasis on healthy and stable development, which requires a healthy balance between supply and demand along with strong policies to control the sector.

Children enjoy playing with motorized vehicles as their parents shop at Toys "R" Us in Alexandria, Virginia. The toy retailer is expanding its presence in China. FOR CHINA DAILY

Cheng also said some reports by foreign media that had quoted him as saying the memorial hall will have the same social significance as the Memorial Hall of the Victims in Nanjing Massacre and become another national memorial facility for the War of Resistance Against Japanese Aggressions (1931-45) were incorrect.

Cheung, who is acting chief executive as HKSAR Chief Executive Lam Cheng Yuet-ngor is on a visit in Britain, made the remarks when attending the International Conference on Smart Future: A Global Perspective held by Hong Kong Productivity Council.

Chen Ruifeng, executive vice-mayor of Wuhan, said the city has rolled out measures to ensure that the waiting time for applicants is restricted to one hour at government offices. The time required for registration, transaction and tax payments involving real estate services will be limited to within 45 minutes, he said.