MNI BRIEF: 'City-specific' Policies To Stabilise China Housing

Beijing will focus on stabilising the real estate market with city-specific measures, while expanding domestic demand by boosting residential income and stabilising investment with increased funding support, Xinhua News Agency reported Thursday, following the conclusion of the Central Economic Work Conference.

Authorities will focus on the city-specific polices to control new housing supplies and reduce inventory, encouraging the acquisition of unsold homes with the prime purpose of providing affordable housing, the meeting said. (See MNI: China To Target City Specific Near-term Housing Stimulus)

Special campaigns to boost consumption and the income of urban and rural residents will be implemented, along with measures to expand high-quality supply of goods and services and to remove unreasonable restrictions in the consumer sector. Additionally, the central government will increase its budgetary funds to help stabilise investment.