China to build a housing system based on rent and purchase of housing

Almaty. December 22. Silkroadnews - China will create a housing system based on rent and purchase of housing, Xinhua reports.
“China will move faster to put in place a housing system that ensures supply through multiple sources, provides support through multiple channels, and encourages both housing purchases and rentals,” the report said.
It is noted that the country will develop its rental market, especially long-term leases, protect the rights of concerned parties and support the development of professional and institutional housing rental companies.
The long-term mechanism that contributes to the stable and healthy development of the real estate market will be improved, along with further work on strengthening of regulatory policies’ consistency and stability. The statement said, powers should be divided between central and local governments and China plans using a differentiated property policy based on local conditions.