China property prices surge again despite Beijing's efforts

03/18/2013 | Bloomberg · Xinhuanet.com (China)

Property prices jumped in 62 of 70 Chinese cities last month, adding to evidence of an overheating market despite government policies to cool things down. The new government now must grapple with further measures to rein in prices while avoiding policies that would stifle overall growth. "We are expecting more property policies in the next couple of months, including those issued by local governments, because the fast-rising home prices have put the government under a lot of pressure. It's not only a big challenge for the new administration but also shows that previous curbs have not worked," said Ding Shuang, a senior China economist with Citigroup in Hong Kong.

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Bloomberg · Xinhuanet.com (China)

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