Off the wire
• Official confident rundown-housing renovation target to be met  • Urgent: Presidential election starts in Myanmar  • Xiamen customs seize hundreds of tonnes of smuggled meat  • Roundup: U.S., Russia divided over Iran's missile launch at UN Security Council  • Tokyo stocks edge lower in morning on investor caution ahead of BOJ meeting outcome  • Rolling Stones to make triumphant return to Mexico  • Aussie dairy giant to ramp up infant formula production to satisfy Asian demand  • Xinhua China news advisory -- March 15  • Venezuela extends economic emergency for another 60 days  • PBOC, MAS renew bilateral currency swap arrangement  
You are here: 　 Home

China's housing market not Japan's 1980s bubble: minister

Xinhua, March 15, 2016 Adjust font size:

China's residential property market is unlike the housing bubble experienced by Japan in the 1980s, Minister of Housing and Urban-Rural Development Chen Zhenggao said Tuesday.

Recently, there have been comparisons between China's housing prices to the Japanese bubble in the 1980s.

The situation in Japan was set against a completely different political and economic backdrop, Chen told a press conference on the sidelines of the annual parliamentary session.

China today and Japan in the 1980s have distinct conditions, with different levels of urbanization, economic development and government measures, he said.

The property market in China will continue to experience steady and healthy development thanks to sound economic fundamentals and enormous housing demand, according to Chen. Endi