Chinese Vice Premier He Lifeng stressed that efforts need to be stepped up to boost the construction of government-subsidized housing, dual-use public infrastructure that can meet emergency needs, and village redevelopment.
He Lifeng, also a member of the Political Bureau of the Central Committee of the Communist Party of China, made the remarks in a teleconference focused on ensuring the delivery of housing projects.
For the official, it is necessary to carry out efforts to address the risks related to unfinished commercial housing projects, ensure the delivery of housing projects and make progress in reducing commercial housing stocks.
Europe and China must focus on common interests
During the conference it was mentioned that the real estate market involves the immediate interests of the people, as well as the general economic and social development of the country, urging efforts to classify and promote the disposition of commercial housing projects under construction that have been sold but are difficult to deliver.
In China, local governments in regions where there is a relatively large amount of commercial housing stock are allowed to purchase some properties at reasonable prices and provide them as affordable housing.
The Chinese Vice Premier also urged to continue with initiatives that seek to avoid and dissipate debt risks related to real estate developers, and ensure the delivery of housing projects in an orderly and effective manner to the population.
Source: https://reporteasia.com/region/china/2024/05/18/china-lleva-esfuerzos-lograr-desarrollo-mercado-inmobiliario/
