The 17th xxx Conference just finished. Overall it is exciting, as expected, the leader re-emphasized the importance to develop economy and clearly pointed out key areas to ensure social harmony and sustainable growth. I am happy with the sucess of the conference and wish the local gv. can implemente central gv. policies.
However there is also something not that "harmonous"
1. The construction ministry head said "we should carefull analyze if there is bubble in cn's housing market". Look at the readers' comments, many are angry or desperate. It indicates that the gv is in fact have no clear objective of controlling market. (CN's gv will never hesitate to interven anything in China). I think now it is more or less clearer now, that the gv's intention is NOT to drop the price but just cool down market so price doesn't go up too fast. I guess the housing price might go down for a short while, probably 10-30 percent in mid 08, and then go up again.
2. The vice president of China Securities Regulatory Commission said "they are analyzing the possibility to exchange H shares and A shares". This is very surpursing to me, I doubt when they make a policy, how much do they considered cn people's interest. It is totally give windfalls to overseas investors at the cost of mainland investors.
I really doubt when high position officials make public speech, do they only represent their own opinons or it reflect state policies. For sure, there are still so many inefficies of policy making and implementation. I am a little frustrated when reading such news.
Saturday, October 20, 2007
The Congress
The 17th xxx Conference just finished. Overall it is exciting, as expected, the leader re-emphasized the importance to develop economy and clearly pointed out key areas to ensure social harmony and sustainable growth. I am happy with the sucess of the conference and wish the local gv. can implemente central gv. policies.
However there is also something not that "harmonous"
1. The construction ministry head said "we should carefull analyze if there is bubble in cn's housing market". Look at the readers' comments, many are angry or desperate. It indicates that the gv is in fact have no clear objective of controlling market. (CN's gv will never hesitate to interven anything in China). I think now it is more or less clearer now, that the gv's intention is NOT to drop the price but just cool down market so price doesn't go up too fast. I guess the housing price might go down for a short while, probably 10-30 percent in mid 08, and then go up again.
2. The vice president of China Securities Regulatory Commission said "they are analyzing the possibility to exchange H shares and A shares". This is very surpursing to me, I doubt when they make a policy, how much do they considered cn people's interest. It is totally give windfalls to overseas investors at the cost of mainland investors.
I really doubt when high position officials make public speech, do they only represent their own opinons or it reflect state policies. For sure, there are still so many inefficies of policy making and implementation. I am a little frustrated when reading such news.
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