BEIJING: In defying four years of official cooling efforts, China's soaring house prices reveal an uncomfortable truth: government is one of the biggest obstacles to the success of taming the market.
State income is so entwined in the need for rising land prices that policy efforts to try to curb the house market create an inherent conflict of interest.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
