Photos You Should See View All 45 ImagesThe sluggish property market also has dented local government revenue from vital land use sales, adding to public debt.
The central bank and State Administration of Financial Supervision issued a list of 17 measures to support the rental housing market, due to take effect on Monday.
Most have to do with financial services for leasing, promoting investment in rental housing and improving the financial management of rental properties.
The aim is to “support various entities to build, renovate and operate long-term rental housing, and to revitalize existing housing stock, effectively increasing the supply of affordable and commercial rental housing,” it said.
Beefing up the rental market would help free up more housing for young people and others who lack the means to purchase apartments.
Persons:
China Evergrande, Wang Dongwei, ”
Organizations:
—, Communist Party, Finance Ministry, Administration, Financial, Housing
Locations:
BANGKOK, — China, Beijing, Hong Kong, China, China's Guangdong