Meeting addresses real estate challenges
China will strictly limit credit flowing into speculative buying in the property market in 2017, according to the Central Economic Work Conference statement issued on Friday.
“Properties are for residential use, not speculation”, the statement said.
The country will speed up efforts to build a long-acting mechanism for stable and healthy development of real estate, and planners will employ multifaceted policies involving financing, land, fiscal investment and legislation to curb a housing bubble as well as wild volatility in real estate the statement said.
Financing must be put under control, and on the micro level, financing policy has to support the reasonable purchase of housing for self-use and strictly reduce financing flowing to speculative buyers, the statement said.