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

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)