October 19, 2016 / 11:05 AM / in a year

China must brook no delay in regulating property market - Xinhua

BEIJING, Oct 19 (Reuters) - China must brook no delay in cutting out “tumours” in the property market to ensure healthy market development in the long term, the Xinhua state news agency said in a commentary on Wednesday.

Xinhua applauded the housing ministry’s recent announcement on cracking down on nine types of misconduct by real estate developers, noting that property market order must be restored.

“We must clearly understand that many Chinese families are spending savings accumulated from many generations to buy a house ... China cannot tolerate a property market full of diseases,” the news agency said.

“An irregular market fraught with rumour and lies hurts everyone’s benefits.” (Reporting by Yawen Chen and Nicholas Heath; Editing by Robert Birsel)

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