Spring is yet to come to China´s housing market, and the government should take more measures to stimulate real estate development, said Ren Zhiqiang, President of Huayuan Group, at a breakout session of the 2009 Boao Forum for Asia Annual Conference in Hainan Province on Friday.
China´s real estate market has shown no sign of any remarkable recovery so far. After the global financial crisis broke out, the Chinese government worked out a 4 trillion yuan (US$585.33600 billion emergency plan to boost the domestic economy. To date, however, only some 200 billion yuan has gone to the real estate market, and this investment is far from adequate to bring about any radical change, said Ren Zhiqiang.
As the global financial crisis unfolds, China has loosened some restrictions on the market in second-hand homes.
