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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Dec. 23 (Xinhua) — China's Ministry of Housing, Urban-Rural Development vowed to stabilize the property market by unveiling a package of city-specific measures to reduce inventory and optimize supply.
Key measures include adjusting new supply to local conditions, activating existing land resources, improving the provision of state-subsidized housing, and more active support for the reasonable financial needs of real estate developers, according to Ni Hong, Minister of Housing, Urban-Rural Development, at an industry meeting in Beijing.
He stated that municipal authorities should make full use of their autonomy in regulating the real estate market, adjusting and optimizing real estate policies as necessary to support residents' basic and growing housing needs, thereby promoting the stable functioning of the real estate market.
Regarding housing sales, Ni Hong emphasized the need to promote the sale of completed new housing to reduce the risks of delivery of properties and strengthen control over down payments in pre-sale real estate projects.
The Ministry will also improve the housing savings fund system and take measures to improve real estate services. -0-
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