National Bureau of Statistics of China

Chinese Local Governments Expand Housing Market Stabilization Efforts to County-Level Cities

Jun 22, 2024, 05:11 AM

Chinese local governments are expanding their initiative to stabilize the real estate market by acquiring unsold houses, extending the program from major cities to county-level cities. The housing authority has joined the plan, aiming to convert unsold commercial homes into affordable housing in hundreds of cities. This move comes amid a persistent property crisis. Signs of recovery have been observed in major Chinese cities since the government introduced various policies to support the property sector a month ago.