Page 16 - Development Institution News Today

The introduction of "housing vouchers" for relocation projects in more than a dozen Chinese cities may help boost home transactions in local property markets that have been facing downward pressure since the beginning of the year, industry experts said on Wednesday.

Housing prices in 70 large and medium-sized cities across China declined at a more reasonable pace in May from the previous month thanks to a series of supportive measures to stabilize the market, and the sector's stabilization is coming soon, said industry experts.

Positive changes have taken place in the property sector thanks to a series of supportive measures to stabilize the market, and real estate's gradual stabilization will also promote overall economic stability in the second half, said the National Bureau of Statistics.

The latest reduction of a key benchmark lending rate in China on Friday significantly boosted market confidence, delivering a strong signal that the nation is determined to fully leverage multiple tools to safeguard economic stability, experts said.

In the property sector, more measures to stabilize the market are likely at the local government level, industry analysts said on Thursday.

Many cities nationwide are making it easier for people to purchase homes

Shanghai has joined prominent Chinese cities to partially ease restrictions on home purchases.

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Chinese importers and vendors are suspending orders or ramping up disinfection work for fashion products directly imported from South Korea after several COVID-19 cases in Beijing, Northeast Chinas Liaoning Province and East Chinas Jiangsu Province were suspected of being connected to imported fashion goods from the country.

The latest property investment and sales data from the National Bureau of Statistics indicate that a recovery in both supply and demand is taking shape, boding well for further market stabilization in the coming months, industry experts said on Tuesday.