"The price of house shouldn't raise anymore." Yu Zhengsheng, the secretary of municipal Party committee and member of the Bureau's Standing Committee, said during the recent Second Session of the 13rd Shanghai People's Congress.
Yu Zhengsheng says the ratio of house price to income is too high, he take the young workers for example. The current house price couldn't be afforded by young workers.
He also points out that the most important mission for now is to adjust Shanghai's economic structure, the possibility to reduce taxes is not high and the government don't have the intention to rescue real estate market.