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China's Real Estate Has Great Potential - Minister

CHINA PRESS
MNI (Singapore)

China’s real-estate sector still has great potential, supported by urbanisation development and the demand for renewal of existing housing, said Ni Hong, minister of housing and urban-rural development at a press conference on Saturday. Authorities should support the reasonable financing needs of state-owned and private developers equally, and promote bankruptcy and reorganisation of those seriously insolvent without operating capabilities, Ning said. Municipal governments should optimise housing policies accordingly, he added, restating the "houses are for living in, not for speculation" principle. (Source: Securities Times)

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