China's Liu on problems plaguing property market

Excessively rapid price growth in certain cities, an irrational supply and demand structure and the inability of low income families to afford housing in the domestic real estate market are worrying officials at the People's Bank of China, says Liu Shiyu, a deputy governor.

Speaking last month, Liu said that housing prices in 70 large and medium-sized cities had increased by 9.5% in the twelve months to October last year. The deputy governor described the mix of housing on offer as "irrational"

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