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China's Local Authorities Curb Secondary Housing Prices in Crackdown on Speculation 7/4/2021
Fitch Ratings-Hong Kong/Shanghai-25 March 2021: The reference home prices set on Shenzhen's secondary-residential home market underscore Chinese policymakers' commitment to keeping the housing sector stable, says Fitch Ratings in a new report.To get more news about China property market 2021, you can visit shine news official website.

There is a notable price gap between the secondary and primary markets in Tier-1 cities, which has stemmed from local authorities capping prices on new projects, while leaving secondary-home prices to be largely market driven. This has led to speculative purchases.

Secondary housing has dominated the overall home sales by volume in most Tier-1 cities due to increased scarcity of residential land amid continued population influx, while its share still diverges among Tier-2 cities.Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved. In issuing and maintaining its ratings and in making other reports (including forecast information), Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible.
Fitch conducts a reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security or in a given jurisdiction. The manner of Fitch's factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other reports provided by third parties, the availability of independent and competent third- party verification sources with respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors.
Users of Fitch's ratings and reports should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Fitch relies on in connection with a rating or a report will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the market in offering documents and other reports. In issuing its ratings and its reports, Fitch must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings and forecasts of financial and other information are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings and forecasts can be affected by future events or conditions that were not anticipated at the time a rating or forecast was issued or affirmed.

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