by Xinhua writers Chen Yongrong, Zhang Zhengfu and Wang Lili
BEIJING, Jan. 14 (Xinhua) -- Despite a promising economic outlook, China still has some problems in its economy, and one of them is surging home prices.
Over the past month the government has rolled out measures to curb soaring property prices and stop speculation, but they would take time to work, according to economists and industry insiders.
HEADING FOR CRASH?
A recent New York Times story sternly warned that China's economy was headed for a crash, citing James S. Chanos, a Wall Street hedge fund investor.
"Its (China's) surging real estate sector, buoyed by a flood of speculative capital, looks like 'Dubai times 1,000 -- or worse'," said Chanos.
Wang Xiaoguang, a researcher with the Chinese Academy of Governance, said nobody would believe China's property market did not have bubbles.
