China’s capital, Beijing, banned single-person households from buying more than one residence and increased the minimum down-payment for all buyers of second homes as the government seeks to cool the property market.
China shouldn’t stop buying U.S. debt following Standard & Poor’s downgrading of the U.S. credit rating, Yi Xianrong, researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, wrote in a commentary in the China Daily.
China’s stocks rallied, sending the benchmark index to its biggest two-day advance since May, as the prospect the government may relax its policy tightening measures spurred gains for the nation’s banks and property companies.
China must reform the way it compiles the consumer price index as its focus on food prices doesn’t tell the real tale about inflation, Yi Xianrong, a researcher at the Institute of Finance and Banking of the Chinese Academy of Social Sciences, wrote in a commentary in the China Daily.
The affect of the European debt crisis on China will be “limited in scope,” Yi Xianrong, a researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, wrote in a commentary published in today’s China Daily newspaper.
The dollar maintained losses from last week against most of its major counterparts on speculation a report tomorrow will show U.S. consumer confidence rose to the highest since July, damping demand for haven assets.