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SOCIETY
Weekly Watch> WEEKLY WATCH NO. 39, 2010> SOCIETY
UPDATED: September 25, 2010 NO. 39 SEPTEMBER 30, 2010
Inflation Worries
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Most Chinese say property prices are "too high to accept" despite government measures to cool the sector, says a central bank survey made public on September 19.

Among Chinese households, 72.2 percent thought property prices are too expensive, up 7 percentage points from one year earlier, according to a survey across 50 cities in the third quarter. The survey was posted on the People's Bank of China website.

Property prices in 70 major Chinese cities rose 9.3 percent in August year on year, the National Bureau of Statistics said.

The study also indicated 15.6 percent of respondents want to buy homes during the next three months, down 1.5 percentage points compared with the same period last year.

Further, 58.3 percent of respondents said commodity prices are "too high," a drop of 0.6 percentage points from the second quarter. The study showed 73.2 percent expected prices to continue to increase, up 2.9 percentage points from the second quarter.



 
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