China must contain the rise of..........>

CHINA PRESS: China must contain the rise of housing prices with tight regulatory

measures, Economic Information Daily said in a commentary, after two major

state-owned banks denied lowering the mortgage rate for first-time home buyers

in Shanghai last Friday. 

  - Continuous rises in housing prices and an expansion in real estate industry

will only increase bubbles and restrict China's potential for development, the

newspaper said. 

  - Local governments must reduce their high reliance on real estate to simulate

the local economy, the newspaper said. 

  - China should soon establish a long-term mechanism to curb people's

expectations for soaring housing prices, the newspaper added.