Measures to Fight Surging Home Prices Announced

Measures to Fight Surging Home Prices AnnouncedWith the pursuit of helping Hong Kong to fight with the surging prices of property, the China's Vice Premier Li Keqiang announced measures yesterday.

It has been reported that the prices of property amidst inflation rose by 5.6%, leaving the middle and working class aghast. Over the past few years, the prices of houses jumped because of low interest rates.

Besides arrival of investors from mainland China has doubled the woes of people who were willing to buy or rent a house. Moreover, the economy of the country has stagnated since the exports of the country have declined.

In such a terrible situation measures were required. It is hoped that the measures thus announced would ease up the growing unrest in the economy of the country. It has been reported that the measures include opportunities to the Hong Kong companies to expand their business to all over China and efforts to boost the city's status as an international center for trading of Yuan.

Following Li’s election as premier, unrest among citizens have increased over government’s mismanagement of the economy. "The central government will exert its utmost to do everything that contributes to prosperity and stability of Hong Kong", Li said in a speech.