Meet­ing ad­dresses real es­tate chal­lenges

China Daily (Hong Kong) - - TOP NEWS - By WU YIYAO in Shang­hai wuyiyao@chi­nadaily.com.cn

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.

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