The Ministry of Housing and Urban-Rural Development on Thursday unveiled a series of incremental policies aimed at fostering a healthy real estate market in the Chinese mainland. Dubbed the 'Four Cancellations, Four Reductions, and Two Increases,' these measures are designed to stimulate growth and stabilize the property sector.
Among the key initiatives, the policies include lifting home purchase restrictions, reducing loan interest rates, and lowering down payment ratios. Additionally, the government plans to increase housing renovation projects and expand credit scales to provide more financial support to both developers and buyers.
Ni Hong, the Minister of Housing and Urban-Rural Development, emphasized the importance of creating a balanced and sustainable real estate environment during a press conference in Beijing. \"These policies are intended to remove barriers to homeownership and encourage investment in the housing market, ensuring long-term stability and growth,\" he stated.
Experts believe that these measures could lead to increased affordability and accessibility in the housing market, potentially boosting economic activity and providing relief to prospective homebuyers.
Reference(s):
China announces incremental policies to prop up property sector
cgtn.com
