Economics
China Talks the Talk on Property Curbs, but Can it Walk the Walk?
- Overheated property market continued cooling trend in November
- 2017 economic growth seen slowing as real estate weighs on GDP
A pedestrian walks through a neighborhood slated for redevelopment as the Shanghai Tower stands in the distance in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is talking the talk about reining in the speculation that fueled spiraling property prices. The test will be whether it can walk the walk should growth start to falter.
The government must do more to deflate the real-estate bubble by strictly controlling speculation, Yang Weimin, deputy director of an elite economic group led by President Xi Jinping, said Saturday in Beijing after the annual gathering to plan economic goals ended. Authorities have made similar vows in recent years that pushed prices down temporarily before they surged anew to fresh highs as policy eased again to boost slowing economic growth.