RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Government / Local Governments News Tools: Save | Print | E-mail | Most Read
Restrictions aim to cool heated property market
Adjust font size:

The Shanghai municipal government has further restricted foreign investors from acquiring land for property development.

Under the No. 16 land transfer bulletin issued by Shanghai Municipal Housing, Land and Resource Administration Bureau on December 23, deposits on land for residential use and commercial purposes can now only be paid in renminbi.

Previously, the bureau accepted four different foreign currencies - US dollars, HK dollars, Euros and Yen - as deposits at government auctions.

The move is widely seen as the latest attempt to clamp down on excessive speculation in the nation's hottest property market.

Despite subtle changes, they are expected to have a large impact on the new inflow of foreign capital, partly triggered by the expectation of further appreciation of the renminbi.

Land for industrial use, however, can still be purchased through foreign currency accounts, according to the No. 17 bulletin released simultaneously.

Industrial experts and analysts said this subtle policy change was expected to make a significant impact on Shanghai's property market by containing the rush of foreign capital, which had been partially blamed for pushing up prices beyond sustainable levels.

James Macdonald, a senior manager of Savills Property Services Co in Shanghai, told China Daily: "This (move) of course will limit the capability for new investors coming into China's market to acquire land for development. But it should not have too big an impact on some of the large foreign property developers who have been operating in China for years."

These developers, he said, would have already accumulated large cash reserves in renminbi from previous profits.

"They have been in China for a long time and should have really large stockpiles of renminbi through revenue generation from the existing properties," he said.

A spokesperson for the municipal administration bureau said the department had no further comment on the circular.

"This stricter restriction on property development by foreign investors is expected to be an effective measure to stabilize housing prices in Shanghai," said Wang Shujuan, an analyst on property at Orient Securities.

Shuai Hu, an analyst on property at Haitong Securities, said that the supply and demand imbalance would remain the major factor in determining future property price movements. The stricter restriction is expected to ease pressure on prices in residential houses, he said.

"The impact of the rule change needs to be watched closely," Shuai said.

(China Daily December 27, 2007)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Property growth likely to slow
- Property prices plunge 9.9% in Guangzhou
- China to curb growth of property loans
- China likely to collect property tax next year
- Foreign firms to pay land-use tax next year
Most Viewed >>
-China works to limit snow-related chaos
-No effort spared, President Hu says
-Chinese Servicemen to Wear New Uniforms
-New commander for PLA Hong Kong Garrison appointed
-Farmers' income growth
Questions and Answers More
Q: What kind of law is there in place to protect pandas?
A: In order to put the protection of giant pandas and other wildlife under the law, the Chinese government put the protection of rare animals and plants into the Constitution.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
Links
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號

主站蜘蛛池模板: 精品久久久无码中文字幕| 色多多视频在线观看| 日本xxxx按摩强| 亚洲AV福利天堂一区二区三| 武林高贵肥臀胖乳美妇| 又爽又黄又无遮挡网站| 裸のアゲハいきり立つ欲望电影 | 亚洲人成电影院| 69精品免费视频| 妞干网免费在线视频| 亚洲а∨天堂久久精品| 永久免费无内鬼放心开车| 催奶虐乳戴乳环| 青青草原精品国产亚洲av| 国产精品99无码一区二区| 91香蕉在线视频| 在线视频免费国产成人| eeuss鲁片一区二区三区| 工囗番漫画全彩无遮拦老师| 亚洲av无码一区二区三区国产| 欧美激情一区二区| 午夜夜伦鲁鲁片| 老司机aⅴ在线精品导航| 国产三级视频在线| 1024视频在线| 国产高清乱理伦片中文电影| bt最佳磁力搜索引擎吧| 日本三级很黄试看120秒| 久久精品国产精品国产精品污| 欧洲美女与动性zozozo| 亚洲国产亚洲片在线观看播放| 精品国产v无码大片在线观看| 国产va免费高清在线观看| 野花高清完整在线观看免费8| 国产在线91精品天天更新 | 亚洲国产日产无码精品| 欧美激情在线播放一区二区三区| 亚洲精品国产电影| 波多结衣一区二区三区| 亚洲精品无码mv在线观看| 浪荡女天天不停挨cao日常视频|