Tag: Property market

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China Attempts to Deflate its Unstable Property Bubble

The Chinese government has announced plans to build affordable housing to help calm the surging property market. From the Guardian:China will spend nearly $200bn (£123bn) on the scheme, part of plans to build 36m low-cost homes over the next five years, said deputy housing minister Qi Ji, speaking at an annual political meeting in the capital. The pledge came a few days after premier Wen Jiabao