Statistics Bureau: The Control Measures Of The Property Market Have Been Successful &Nbsp; Speculation Has Been Obviously Curbed

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For the current price issues of high concern, Sheng Lai Yun said that despite the upward pressure on prices, it is still possible and possible to achieve the target of price control of around 3% in the whole year.

Speculation in property market is contained

"The ultimate goal of real estate regulation is to curb the bubble of real estate and ensure the steady and healthy development of the real estate industry."

In the three quarter economic data press conference held by the State Council New Territories office, Sheng Lai Yun believed that the real estate prices did rise from the September real estate market, and in September, the prices of the 70 large and medium-sized cities rose by 0.5%.

But from a year-on-year view, house price growth has dropped by 0.2 percentage points from August, and the trend of sharp rise in housing prices in some first tier cities has been significantly curbed.

Sheng Lai Yun suggested that we should treat and evaluate the effect of real estate regulation in a comprehensive way, not just the change of house prices.

He said that from the perspective of real estate demand, investment demand has been significantly curbed, and the decrease of sales volume in some cities is mainly from speculative demand.

In the supply of real estate, there are two new changes this year. First, the control over the hoarding behavior of real estate has been intensified. Some developers have increased investment in development.

Two, the government has intensified the construction of affordable housing this year.

Import inflationary pressures rise

Consumer prices (CPI) rose 3.6% in September, a record high in the past two years.

As for the warming of inflation expectations, Sheng Yun believes that international commodity prices have fluctuated from beginning to the beginning of this year.

The frequent occurrence of natural disasters in China also has a great impact on the production and circulation of agricultural products and food.

Compared with other BRICs, Brazil's CPI rose 4.7% in September, Russia's CPI rose by 7% in September, and India's CPI rose 9.9% in August.

It can be seen that China's price rise is relatively low, and is basically stable.

For the late trend of prices, Sheng Lai Yun believes that the current factors not only affect the upward trend of prices, but also affect the downward pressure of prices.

The recent depreciation of the US dollar has stimulated the sharp rise in international commodity prices, and there will be some import inflationary pressure in China.

In addition, the rise of domestic labor costs may lead to subsequent industries.

Despite the upward pressure on prices, if the latter is well managed, it is still possible and hopeful to achieve the goal of macroeconomic regulation and control throughout the year.

CPI is not underestimated.

Whether the low proportion of residential prices will bring CPI underestimation, Sheng Lai Yun said, according to the international practice, housing expenditure is based on investment rather than consumption, and housing prices will not be included in the direct statistics of CPI.

In the future, the weight of housing expenditure in China will continue to increase, but this is a gradual process of CPI development.

Sheng Lai Yun believes that the current CPI weighting in China is about 15% of the living class price, while the US is about 42%.

This is mainly due to the differences in the level of development and quality of life between the two countries.

Chinese household consumption accounts for a relatively large proportion of food consumption. China's Engel coefficient is around 40%, while the US Engel coefficient is below 20%.

"China's CPI data can objectively and truly reflect the level of price rise."

Sheng Lai Yun said that the current CPI index covers eight major categories of consumer spending and services, including more than 600 representative specifications.

Food prices rose 8% in September, but there were also some consumer durables prices falling.

"Food prices are rising very high and they feel that CPI is undervalued. This is the difference that people feel."

He thought.