After Xi Jinping said “Housing is for living in and not for speculation,” and China will “build a housing system featuring multiple suppliers and various channels of support that encourages both housing rentals and purchases” at the party’s 20th national meeting, the party media reported that “policy has set the tone” for Chinese property development in the next five years.
While policy could affect the direction of the market, the market itself is the key for development, a financial expert told The Epoch Times.
Real Estate Crisis
When China delayed releasing the third-quarter gross domestic product (GDP) for a week amidst the 20th national meeting, media reported that property developers in China were anxious for clues from the leadership that would resolve the market crisis….