The last line says it all:
“The Chinese Academy of Social Sciences is the leading ideological institution of the Chinese Communist Party”
This just screams of a planned economy. Sounds like the free market experiment was to successful to the and now they want to exert control again.
Their economy has been planned all along. That’s part of the problem.
They don’t have a credit bubble in RE like we do, but a cash bubble in RE. Too much cash.
I think this is a shot over the bow to try and burst that bubble. It comes from one party organ, although many party hacks are in RE.
Even those who are seen as “free-market” over there would be classed at best as moderate Dems over here.
Just BIG GOVERNMENT doing whaqt it does best—waste taxpayer money.