A commentary by Li Zhongqing on RedNet (红网) sharply picks on a few words made by a senior Chinese construction official. Translated by CDT from RedNet:
Right after Chinese New Year, the government made remarks about stabilizing the housing market, citing three measures. But my excitement soon vanished after reading through the three measures, which are all nothing but frequently scripted official talk.
More annoying is the last sentence of this official, Vice Minister of Construction Jiang Weixin (姜伟新), who said that “the general principle is we should not only prevent the housing price from increasing too fast and too dramatically, but we should also avoid a sudden drop in housing prices.” Around this time of history, housing prices have been doing nothing but skyrocketing. When did it tank abruptly? Even if it does, it’s great news for the common people. That will mean a return of housing prices within the normal range and average folks won’t be concerned about extravagant profits for the real estate industry. Why would a government official worry about a dropping housing market?
