MNI BRIEF: China To Keep Stabilising Housing Market - CEWC
MNI (BEIJING) - China will continue with efforts to stabilise the real estate market and handle the risks of local small and medium-sized financial institutions, CCTV News reported Thursday, following the Central Economic Work Conference.
Authorities will step up efforts to implement the renovation of urban villages and dilapidated housing, and promote the establishment of a new development model of real estate, the meeting said. Beijing will introduce the Private Economy Promotion Law next year, standardise business-related law enforcement, as well as push the reform of the fiscal and taxation systems, and deepen capital market reform.
Advisors recently told MNI that Beijing will need to provide the housing market with additional policy measures, including a further CNY2 trillion to support the government’s urban village renewal scheme and the purchase of unsold homes and idle land. (See MNI: China’s Property Measures Face CNY2 Trln Funding Gap)