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Such exuberance is both good news and bad for China's leadership. The revival of the real estate industry is a key reason that China's economy is emerging from the global recession with such strength. But frothy increases in home prices are also fueling concerns that the property boom...
The reason is that the roaring real estate market is complicating Beijing's decisions on when and how to unwind the drastic stimulus measures that policymakers put in place to combat the global recession. There is clearly a link between Beijing's ultra-loose monetary policy and the run-up...
But economists believe that the longer Beijing keeps the stimulus tap open, the greater the danger that the good times in Chinese real estate could turn ugly. Louis Kuijs, a China economist at the World Bank in Beijing, commented in early November that even though Chinese policymakers may not need...
- With reporting by Chengcheng Jiang / Beijing
See 10 things to do in Beijing.