As China’s property market develops, attention should be paid to the economical use of land and small and medium-sized housing projects should be encouraged.

　　Moreover, the government should provide developers other financing channels besides bank loans, said Wu Xiaoling, vice-governor of the People’s Bank of China, the country’s central bank, when making a speech at a property forum in Beijing yesterday.

　　Although there is an increasing demand for housing due to factors such as urbanization, resettlement projects, people’s desire to improve their standard of living and fixed-asset investment, the country’s limited resources cannot predict and meet this demand, the governor said.

　　China has seen a high rate of urbanization, jumping from less than 30 per cent in 1995 to 41 per cent last year. This is twice that of the global average over the same period.