No restrictions on Wenzhou people to purchase properties
2/4/2004 14:44
An exhibition of business space will be held in Wenzhou this weekend
as scheduled, contrary to media reports that the Wenzhou government would
require strict examinations and approval for media institutes seeking to hold
real estate shows, the Shanghai Morning Post reported today.
"To date we have
not received a ban on media institutes which would prevent them from holding
property exhibitions. They are likely to be restricted in the future," said Gao
Haoxiang, spokesman with the Wenzhou Evening News, one of the sponsors of the
exhibition.
It will be the largest-ever professional property exhibition in
Wenzhou, with more than 140 participants from all over the country, double the
expected number.
The Wenzhou government will not restrict its people from
purchasing properties around the country, but is likely to put a lid on
manipulation of the domestic real estate market, said a spokesman with the
Wenzhou Government.
Over the past several years, Wenzhou people, called both
wealthy and generous, have often worked in groups to purchase housing in other
cities, a practice which is blamed for driving up local housing
prices.
Wendy Zhang/ Shanghai Daily news
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