China is taking bold steps to stabilize its real estate market, with the Minister of Housing and Urban-Rural Development, Ni Hong, announcing a series of measures to boost the sector. 🏗️
At a press conference during the third session of the 14th National People's Congress in Beijing, Ni emphasized the government's commitment to providing strong financing support for eligible housing projects and ensuring homes are delivered to buyers on time.
"Stabilizing the property sector is imperative," Ni stated, highlighting the importance of collaboration with relevant departments to achieve this goal. 📈
The minister also called for maximizing the impact of policies like interest rate cuts, increased loans, and tax reductions to make housing more affordable for everyone.
In addition to new housing projects, China is ramping up efforts to renovate urban villages and dilapidated houses. Last year alone, over a million units were added to renovation projects, and this year, the ministry aims to accelerate these efforts through various methods such as on-site reconstruction, renovation and expansion, and earthquake-resistant reinforcement. 🛠️
Ni Hong also shared plans to develop a new model of real estate that meets the people's needs for high-quality housing. This includes promoting the construction of safe, comfortable, green, and smart homes, ensuring the real estate market remains stable and healthy. 🌱
With these initiatives, China aims to improve living environments and eliminate safety hazards, creating a better future for its residents.
Reference(s):
Minister: China will resolutely stabilize real estate market
cgtn.com
