BOAO, Hainan, April 11 (Xinhua) --
http://news.xinhuanet.com/english/2008-04/12/content_7962475.htm
The spreading sub-prime crisis in the United States was unlikely to
have a serious impact on China's real estate sector, said an economist
in the Real Estate Dialogue held Friday on the sidelines of the Boao
Forum for Asia 2008 annual conference.
Chen Huai, dean of the policy research office of the ministry of
housing and urban-rural construction, also denied that China's real
estate sector is in the trough.
"The process of urbanization in China is a long-term strategy that
will last 20 to 30 years, it will not be easily affected by individual
events such as the American sub-prime crisis and the Olympic Games,"
Chen said.
The U.S. sub-prime mortgage crisis became a heated topic at the
Dialogue. Some speakers worried that the crisis would spread to other
areas in the world, including China, where the real estate sector
would face a fairly difficult time.
"I don't think China's real estate industry will really drop,"
Chen said.
The crisis would not bring a "winter" for China's real estate
industry, because "it's not Chinese banks that granted mortgage to the
U.S. people, and it's not the Chinese people who have borrowed from
the U.S. banks," said Chen.
The Boao Forum for Asia Annual Conference 2008 is slated for April
11 to 13. The theme of the conference is "Green Asia: moving towards
win-win through changes".
Editor: Yan Liang
www.chinaview.cn 2008-04-12 01:03:39 -
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