People’s Daily: China continues efforts to control soaring housing prices

From The People’s Daily Online:

After a series of measures designed to slow down China’s soaring housing prices, seven government departments took further action Wednesday, issuing proposals for stabilizing housing prices.

The proposals were jointly issued by the Ministry of Construction, the State Development and Reform Commission, the Ministry of Finance, the Ministry of Land and Resources, People’s Bank of China, State Administration of Taxation and China Banking Regulatory Commission.

Targeting problems such as too much investment in real estate and hiking housing price, the proposals suggest all regions in the country undertake the cooling of the real estate market as a priority.