The past 10 years has witnessed unprecedented overheating and bubble in the real estate industry of China. Take Shanghai as an example, the average housing price here was merely 3000RMB per square meter, but now soaring to 23500,which is unaffordable burden to those ordinary wage-owners whose monthly salary is less than 4000RMB and aspiration is to own a decent and cozy place to live in the cosmopolitan city.
Taking into account of which, the local authorities put forward and carried out a series of measures aiming to curb speculation, such as raising the interest rate and housing tax, the initial effects of which showing.(此句为定语从句和独立结构的连用体)