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China needs to give up its pursue of....>

CHINA PRESS
CHINA PRESS: China needs to give up its pursue of rapid economic growth to
realize higher-quality development, the Economic Information Daily said Monday
in a front page commentary on the Politburo meeting held last Friday. The
meeting emphasized the need for the nation to build a long-term effective
mechanism for property market control and accelerate the reform of the
residential housing system. This means real estate market reform will see a
breakthrough in 2018, particularly in terms of increasing housing supply,
developing rental housing, and pushing forward the relevant fiscal and household
registration system reforms, the commentary noted. Although the economy's
overall leverage ratio is declining, it remains high, particularly in the
household sector, the commentary warned. The property market bubbles in Tier 1,
Tier 2 and Tier 3 cities need to be further curbed, the commentary argued.
(Economic Information Daily)

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