Members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, discussed economic prospects of the 12th Five-Year Plan (2011-2015) at the Beijing Railway Hotel on March 11. Excerpts from their discussion can be found below.
Hu Deping, CPPCC member and Vice Chairman of the All-China General Chamber of Industry & Commerce:
According to the 12th Five-Year Plan, two-thirds of the state's revenue will be spent on improving the livelihoods of Chinese citizens. This is a big step forward. State-owned enterprises, particularly those with a monopoly in their respective fields, should set fairer prices for water, electricity, gas and oil instead of asking for more money from consumers.
Li Yining, CPPCC member and professor at Peking University's Guanghua School of Management:
I think the current policy of controlling housing prices by setting restrictions on buyers will not last long. It is better to set restrictions on sellers, in my opinion. For example, if a house is sold more than once within one year, we should charge a higher tax for selling this house. The tax should decrease according to how long the owner retains the property. After five years, the house can be sold with no tax. This measure will be much more practical in controlling China's overheated real estate market.