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SITUATION REPORT

Dec 25, 2012 | 12:26 GMT

China: Government will Adhere To Property Controls In 2013

China will continue to build affordable housing and adhere to control measures in the real estate sector in 2013, Chinese Minister of Housing and Urban-Rural Development Jiang Weixin said Dec. 25, Xinhua reported. Tax policies, purchase restrictions and differentiated credit should continue, he said, adding that these measures would curb speculative and investment demand in the market. Real estate in China is an engine of growth, but it is also one of the least stable and sustainable methods of encouraging growth, at least as carried out in China in recent years.

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