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/ Business/ OpinionTop think tank advocates better housing securityUpdated: 2013-12-19 10:01( Xinhua)Comments Print Mail Large Medium  SmallBEIJING – Chinas top think tank has advocated market-led regulation of land supply for better housing security, according to its report released Wednesday.
The report by the Chinese Academy of Social Sciences (CASS) and the newspaper Economic Information, said the average house price rose 8.5 percent year on year in the first three quarter of this year, while sales totalled 754 million square meters, up 23 percent from the same period in 2013.
New different regulations are required as to equalize land supply between first and second tier cities and the less populous third and fourth tier to balance the urbanization and stabilize house prices.
The report advocates weakening of the power of local government and State-owned enterprises in the land market through integrating the urban and rural construction land markets and supporting small and medium real estate companies.
The markets role in resource allocation has to be enhanced along with stricter legal supervision, especially for affordable housing construction, according to the report. The long-term task in land reform falls on the the tax system, household registration and legislation.
Zhang Zhuoyuan of CASS believes that the ceaseless rise in house prices reveals the limited effects of administrative regulations. Low efficiency in use and management of the housing fund and lack of transparency remain obstacles to housing security, Zhang added.
Cai Jiming, director of the Center for Political Economy at Tshinghua University, regards more focus on supply as a better and natural way to stabilize house prices and tackle speculation.
The report also said the problem of migrant workers with relatively lower incomes needs to be addressed with basic rights and household registration.
Meanwhile, the credit market can play a bigger role by expanding financing channels for the real estate industry, injecting capital into affordable housing and mitigating risk. 8.03KRelated StoriesHousing sector may lose steamChina passes annual targets for affordable housingReforms to improve access to affordable housingChina unifies public housing schemesCities issue new housing policies PhotoModel with modified Audi R8Bordeaux wine shop and bar opens in BeijingChinese bellybands easy to stomachWomen at the top VW Kombis epic journey reaches end in BrazilModel with modified BMW Z4Chinese flock to Korean shopping mallsModel with modified Audi A5China Economy by NumbersChina Economy by Numbers – NovChina Economy by Numbers – OctChinese Companies Overseas FootprintBritain set to OK Huawei cyber centerChinese companies boost UK economyNewsmakersDriving onward in a competitive raceForbes names Wang Asias businessman of the yearInterviews: Innovative ChinaReform of financial power distribution highly necessaryLi Daokui on urbanization in ChinaMost ViewedTodays Top NewsChina Mobile users cant get their bite of Apple yetOverseas investing sees large jumpOfficial warns on export outlookHousing sector may lose steamChina Mobile set for 4G services in 340 citiesHome prices continue monthly riseNovember FDI edges up 2.35%Editors PicksChina Economy by Numbers – NovLeadership key to retain talents…Central Economic Work ConferenceSlowdown seen in petroleum useMotoringModel with modified Audi R8Dongfeng Renault expects 1st China-made Renault SUV in H1 2016…Ford says profit to slow a gear in 14; shares slumpChevrolet marketing boss Perry resignsChina DataProfits of Chinese state firms up 8.2% in Jan-NovChina reports healthy capital accounts in Q3…New vehicle Nov sales in Beijing up 2.6%China home prices continue to rise in NovVideoSlidePodcastPicturesWhen Families Lose Their Only ChildTHE WEEK Dec 13: Just did itMiao lifestyle preserved in SW China villageTibet Daily shares photos
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