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December 22, 2016

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China to regulate housing rent and curb bubbles

REGULATING the housing rental market and curbing property bubbles are two major projects serving Chinese people’s residential needs, President Xi Jinping said yesterday.

The residential feature of housing should be accurately taken into account, Xi said at a meeting of the Central Leading Group on Finance and Economic Affairs.

China should form a housing mechanism that meets both purchase and rental purposes as well as housing demand of a new urban population, said Xi, who heads the group.

The meeting reviewed major projects outlined in the 13th Five-Year (2016-2020) Plan and discussed outstanding issues of public concern, according to a statement released after the meeting.

The market will play the leading role in catering to multi-layered demand, while the government will take care of basic housing demand, according to Xi.


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