China's preferential housing policy may cease at year-end

China's preferential housing policies may come to a close by the end of the year. Wang Juelin, the vice director of the Ministry of Housing and Urban-Rural Construction, says this is because of the current active state of the real estate industry.

The policy package includes reduced or exempted purchase and sales taxes and 30 percent discount on housing loans for the first dwelling of a family.

The policies brought out last year were designed to lift a slumping housing market amid the global economic downturn. Wang says there is no doubt the GDP growth this year will be over eight percent, so the stimulus policies may be brought to an end.