Rental home prices in the Xiongan New...>

CHINA PRESS: Rental home prices in the Xiongan New Zone, the state-level

district China established as a new development hub for the

Beijing-Tianjin-Hebei area, have surged to twice or even four times what they

were before the zone was established, Caixin magazine reported Thursday. The

government is placing controls on the housing market to tackle the problem, the

magazine said. Beijing has designated the district to be the location of

"non-core" functions of the capital, and companies, universities and government

agencies are expected to move in and increase demand for housing, leading to a

jump in prices. The local government in Rongcheng Township, where prices for

rentals were up two to four times and office rental prices were up two to three

times, said the main reason for the rise was the arrival of 65 large companies

to the area. (Caixin)