As realty shares rally, housing hopes rise
Release time：2024-05-08 17:19:07 Source：International Informer news portal
-
Strong positive sentiment lifted Chinese real estate shares on Monday, prompting experts to express confidence that the recovering capital market confidence, coupled with local-level optimized property policies, will help stabilize the housing market. Property shares rose 0.67 percent on average, led by Hua Yuan Property that surged by maximum 10 percent, according to Stockstar, a provider of financial information. "The stock market's performance was in line with the central government's guidance as well as the latest policies at the local level," said Chen Jie, director of the Center for Housing and Urban-Rural Development with Shanghai Jiao Tong University. On April 30, the Political Bureau of the Communist Party of China Central Committee stressed that it is necessary to continue to take precautions and resolve risks in key areas. While implementing their respective local policy, key stakeholders in each city, including local governments, real estate enterprises and financial institutions, will take responsibility for ensuring the delivery of property projects to homebuyers and protect the latter's legitimate rights and interests. "The (April 30) meeting stressed that the delivered housing projects should be livable, equipped with all the supporting facilities, which will create related demand along the industry chain," said Li Yujia, chief researcher at the Guangdong Planning Institute's residential policy research center. On supply and demand, the meeting said Chinese people's expectations for high-quality housing, measures for the market's absorption of property inventory and optimization of new demand should be coordinated. The meeting also said close attention should be paid to building a new model for real estate development and promoting the high-quality development of the property industry. Beijing and Shanghai were among the first big cities to grasp the significance of the meeting. Several other cities are expected to further optimize their housing policies this month, said Yan Yuejin, director of the Shanghai-based E-house China Research and Development Institution. On April 30 itself, Beijing's municipal government said eligible households or single adults living in the national capital will be allowed to buy an additional apartment outside the Fifth Ring Road. On Friday, Shanghai launched a trade-in initiative for commercial real estate. For people mulling sale of their existing property to buy new homes, Shanghai proposed that potential homebuyers should first sign an expression of interest with developers of new housing projects, so that their existing homes can be given priority by real estate agencies in the secondary trading market. The transaction for a new home can be completed after the sale of the old home. More than 30 residential projects in Shanghai regions, including Jiading, Songjiang, Qingpu, Fengxian and Lin-gang Special Area, became the first batch of participants in the new initiative, according to Shanghai Observer, a Chinese-language news website.
（Editor:Wang Su）
- Previous：Inside the Met Gala: A fairytale forest, woodland creatures, and some starstruck first
- Next：How a stem cell transplant could help to stop epilepsy seizures
Related articles
- America's worst jail? Inmate is the THIRD to escape from facility in less than a month
- Children View Lanterns at Lantern Making Center in Hebei
- Protection of consumers' personal information highlighted in China's new regulations
- Beijing 2022 Mascots: Made in China, Made of 'China'
- Camping picks up pace as holiday option
- China Focus: China Steps up COVID
- Square Dancing to Feature Ahead of Beijing 2022 Opening Ceremony, Says Director
- In Pics: Awarding Ceremony of 2,000m Short
- China celebrates 30 years of internet access, boasting over 1 billion users
- Construction of Mainland
- Surprise! Zendaya unveils SECOND red carpet look at Met Gala as she wows in corseted off
- Children Find Snow Sports Cool, Survey Reveals
- China Makes Progress in Consolidating Poverty Alleviation: Official
- People Around China Celebrate Chinese Lunar New Year
- World champions aim to refresh records in Xiamen
- Pupils Enjoy Their Winter Vacation Across China
- Roundup: China Equals Best Record in Olympic Golds, French Pair Crowned in Ice Dance
- In Pics: Onboard Markets on 'Slow Trains'
- Zhejiang overcomes Xinjiang to tie CBA playoff semis
- Local Authorities Take Measures to Improve People's Living and Working Conditions in Guangxi
Random recommendation
22 killed, 10 injured as tractor trolley overturns in IndiaIsrael's intrusion into Gaza won't gain security: Jordanian FMOrban fears prompt Michel quit UArab states condemn U.S. for vetoing UNSC resolution on Gaza ceasefireAfrica Energy Indaba highlights prospects of South AfricaUnited Airlines Boeing 757 flight makes emergency landing due to wing damageHomicide suspect kills himself after fleeing through 3 states, authorities say161 confirmed dead, 103 missing in Japan's quake100 dead, 211 missing after powerful quakes jolt JapanU.S., Western allies should not preclude Malaysia from being friendly to China: Malaysian PM
- Copyright © 2024 Powered by As realty shares rally, housing hopes rise ,International Informer news portal sitemap