National Bureau of Statistics of China

Major Chinese Cities Ease Home Buying Restrictions to Revive Real Estate Market

May 9, 2024, 05:05 AM

In a significant move to revive the struggling real estate market, major Chinese cities including Shenzhen and Hangzhou have eased or completely removed home buying restrictions. Shenzhen, known as China's technology hub, has relaxed rules in some districts, while Hangzhou, another key city with a strong tech presence and home to Alibaba, has lifted all restrictions. This trend is part of a broader strategy by local governments to stimulate the property sector, which has seen a downturn in recent years. Other cities like Xi'an have followed suit, indicating a possible nationwide shift towards more lenient property purchasing policies.