China takes "quiet" approach to deflating property bubble

China is taking a "quiet" approach to its housing bubble in an attempt to avoid a harmful financial crash.

The country has been facing rising sales and prices for some time, with many concerned that the housing market is inflating into a bubble. Measures were previous introduced to cool the market, but prices continue to grow, alongside activity. Indeed, national investment in real estate development hit 8.6 trillion yuan in 2013, 19.8 per cent higher than the previous year.

Under the new leadership, notes the SCMP, real estate has never been publicly mentioned by the premier. The policy instead is to "not directly interfere in the market", says the newspaper, "but it will provide basic housing for low-income groups through the development of public rental housing, low-rent housing, and the transformation of various shanty towns".