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More regulation possible as house prices rise (3)

(Xinhua)

08:27, August 24, 2012

PROSPECT

Many suspect the upturn in house prices may lead to the rolling out of stricter curbs on the sector from central government.

More than half of the 49 property companies listed in the Shanghai and Shenzhen stock market have seen their profits fall by the end of July.

Tan Weimin, vice president of Xincheng Holdings, said: "Many property enterprises dare not to put up the prices, fearing to incur a new round of control."

Gu Yunchang, deputy head of China Real Estate and Housing Research Association, said the property sector has been witnessing increasing complexity and instability in market operations, and that property curbs are still an arduous task for government.

In July, the cabinet sent eight teams to inspect the implementation of property regulation policies by local authorities. The teams went to 16 cities and provinces, to assess how well central government's housing purchase limit policies and differential credit policy have been carried out. They also checked the supply and management of residential land and the implementation of tax policies.


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