China expects high for new head of housing regulator

Updated: 2014-05-05 18:49

(chinadaily.com.cn)

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China expects high for new head of housing regulator
Property price surge 'could soon be over' 

China expects high for new head of housing regulator
As residential home market cools, investment keeps on growing 

The Chinese government appointed Chen Zhenggao as Party chief of the ministry of Housing and Urban-Rural Development on Sunday, signaling its resolve to tackle the housing problem, according to chinanews.com.

Chen once was the deputy secretary of Party Committee and mayor of Shenyang city,capital of Northeast China's Liaoning province,when Li Keqiang,now the Chinese premier,was the Party chief of Liaoning.

Chen can better understand and carry out Li's policies on the real estate sector, chinanews.com cited Yuan Gangming,a researcher at the Center for China in the World Economy, Tsinghua University.

The experience of Chen, also former governor of Liaoning, in Shanty town transformation will help him do such work nationwide,chinanews.com cited Zhao Luxing,a researcher in the policy research center of the ministry of Housing and Urban-Rural Development.Liaoning was the first province to start shanty town transformation in China.

"Government should solve the housing problem,especially for those who are unable to pay the high prices," Zhao Luxing added.

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