Reforms should be pushed forward to.....>

CHINA PRESS: Reforms should be pushed forward to maintain the healthy and stable

growth of the property market, the Financial News, a journal published by the

People's Bank of China, reported Tuesday. An increase in land supply is a more

fundamental measure that can be taken to achieve a balance of supply and demand

in the property market, rather than restrictions on house purchases and mortgage

loans, the report argued. The country needs to further promote the rental

housing market and reduce the addictive attraction of home ownership, the report

added. Other relevant reforms, including improving the household registration

system and better distribution of education and medical resources, also need to

be followed up. The high reliance of local governments on land sales for fiscal

revenue also needs to be resolved via fiscal and tax reform, the report said.

(Financial News)