File Photo:VCG
The Ministry of Housing and Urban-Rural Development (MOHURD) held a meeting on Thursday to review its work of 2023 and outline key tasks for 2024, with a focus on tailoring distinct policies for various cities, facilitating quality housing projects, and guaranteeing timely housing delivery to home buyers.
The MOHURD will focus on four main sectors of work, including applying different policies for different cities to achieve balance between supply and demand across real estate, strengthening the implementation of policies for first and second homes, according to Ni Hong, minister of MOHURD.
The priority of the ministry will also include ensuring the delivery of housing projects, strengthening regulation of pre-sale funds, expediting the reform of the country's pre-sale system and meeting the reasonable financing needs of real estate enterprises under different ownership models, Ni said.
China's tone-setting Central Economic Work Conference last week called for active and steady resolution of real estate risks. As housing market began stabilizing and addressing existing risks, experts noted that the Chinese real estate market could aim for further improvement during 2024.
The focus of housing in China has grown from creating enough homes to developing homes that are good enough for Chinese families. In 2024, the ministry will select good house projects at different price ranges across different cities, Ni said.
Real estate companies should have a clear understanding of the current market, which looks for high quality, new technology and good service. Companies that can build good houses and provide good service for the public will win the market, Ni said.
The next target is providing quality housing for all, the minister said.
According to National Bureau of Statistics, China's real estate investment from January to November had decreased 9.4 percent from the same period last year, amounted to 10.4 trillion yuan ($1.47 trillion), maintaining a decline which first began in April 2022.
Global Times
