They're two of the most important sectors in Chinese economy and, as far as the numbers are concerned, appear to be weathering the global economic downturn.  The China Banking Regulatory Commission is reporting that the banking sector in 2008 turned a net profit of some 583 billion yuan.  That's a growth rate of over 30 percent.  Meanwhile, housing prices appear to be heading downward.  And though this may not be welcome news for home owners, analysts expect the drop in commodity prices may help persuade developers to get back into the construction market, spurring on momentum in a housing sector which had been cooling over the latter half of last year. 

Ni hao, you're listening to  People In the Know, your window into the world around you, online at crienglish.com here on China Radio International.  In this edition of the show we'll be talking about China's banking and housing sectors.  So let's get started.

(Music)

First let's find out what's happening in China's housing market.  Michael Klibaner is the National Director and Head of Research for Jones, Lang and LaSalle in Shanghai.

(Dialogue with Klibaner)

And after a short break, we'll switch gears to talk about the banking industry in China.

(Promo)

Ni hao, you're listening to  People In the Know, your window into the world around you, online at crienglish.com here on China Radio International.  I'm Paul James in Beijing.  In this edition of the show we're discussing the Chinese housing and banking industries.  For more on the banking sector we're joined on the line by Professor Liang Qi with the School of Economics at Nankai University in Tianjin.

(Dialogue with Liang)

And that wraps up this edition of  People In the Know, online at crienglish.com here on China Radio International.  With the apparent stability in the housing and banking sectors in this country, it should be seen as a sign that the foundations are there for China to weather the worst of the global economic downturn.  Questions or comments for us can be sent to people@cri.com.cn or leave a message on our forum by going to the crienglish site, clicking on Talk China then finding the People In the Know section.  For Executive Director Zhao Yang and Producers Chen Mo and Xu Yang, I'm Paul James in Beijing.  We'll talk to you tomorrow.