Shanghai Mayor Han Zheng: Property over-investment severely distorts residential function

Shanghai, October 10 (Xinhua) Shanghai Mayor Shevit in response to the Shanghai real Estate regulatory policy at a press conference today, he said, "the high price of housing in Shanghai has become an indisputable fact that excessive investment and hedge speculation has seriously distorted the housing function of real estate, Our regulatory objective is to return the original residential nature of housing, to ensure the interests of more residential-oriented residents. Han said that real estate is not only an economic problem, but also a livelihood issue. Since this year, the central government's real estate control measures are correct, we resolutely implement, at the same time, according to the city's actual, within the scope of our responsibilities, to develop regulatory measures. Our regulatory thinking is: Clear objectives, strong measures. This goal is to return the original residential nature of housing, to ensure that more residential consumption of the main interests of residents.