Chinese City Offers Home Purchase Vouchers-Herald

China's central city of Zhengzhou will hand out home purchase vouchers to residents displaced by its shantytown renewal programme, aiming to solve resettlement problems and promote destocking in the property market, the 21st Century Business Herald reported citing a gov document released on Monday. Voucher holders need to purchase homes from designated developers within 12 months, and the government will offer an additional reward of 8% of the resettlement compensation as well as a three-month transition fee in cash, the newspaper said. The property market in Zhengzhou is expected to get out of the trough with continuous relaxing policies to stimulate demand since March, the newspaper said.