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China to adapt policies to housing needs: official

(Xinhua)    08:08, December 25, 2017

Housing policies will support first-home buyers and upgraders in China and curb speculation in 2018, an official said Saturday.

"We should stick to the principle that housing is for living in, not for speculation, and improve the long-term mechanism to promote a steady, healthy housing market," Wang Menghui, minister of housing and urban-rural development, said at a meeting.

Market monitoring and analysis should be improved to ensure the accuracy of policies, he added.

"We should move faster to put in place a housing system that ensures supply from multiple sources, provides housing support through multiple channels, and encourages both house purchases and rentals," he said.

Large and medium-sized cities with net population inflow should step up the development of the housing rental market and set up state-owned home rental companies, according to the minister.

China will support home rental companies and build government-led rental management and service platforms.

Third- and fourth-tier cities and counties should continue to reduce unsold housing, Wang said.

China will also improve housing market order with a hard-line stance on violations by developers and property agencies, he added.

A statement released Wednesday after the Central Economic Work Conferencesaid that China will maintain policy consistency and continuity and adopt differentiated property policies.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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