China property initiatives to get house in better order
BEIJING: In a tone-setting conference, China's policymakers have outlined specific property measures focused on risk prevention, stock optimisation and supply improvement, which is key to the stable and healthy development of the real estate sector, say industry experts.
Being an important pillar of the nation's economy, the property market is closely associated with overall economic performance, including financial policies and capital markets.
Therefore, bolstering real estate market stability calls for consistent efforts and further supportive measures, they said.
The Political Bureau of the Communist Party of China Central Committee held a meeting to analyse and study the current economic situation and overall economic work.
The meeting affirmed the positive changes observed in the real estate sector over the past two quarters.
Thanks to a series of supportive housing policies, property sales, prices and land markets in major cities have shown signs of stabilising after a period of gradual decline, laying a solid foundation for further recovery.
Two major strategic directions were highlighted. These were the intensification of urban renewal initiatives, including the orderly advancement of urban villages and dilapidated housing renovations, and seondly, the acceleration of the establishment of a new real estate development model.
'The meeting further stressed the significance of urban regeneration, and urged greater efforts to promote the renovation of urban villages and dilapidated houses,' said Yan Yuejin, deputy head of the Shanghai-based E-House China R&D Institute.
'This is also one of the key tasks for the year 2025, as the renovation of urban villages would not only improve people's living environments, but also activate more market demand,' Yan said. — China Daily/ANN
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