Anqi Zhao

According to a press conference of the ongoing two sessions, China's real estate sector still enjoys great potential and shows space for development in the mid-term to long-term. China will also ramp up efforts to build a new development model for the sector in order to bolster the healthy development of the real estate sector.

There are currently more than 30 billion square meters of urban houses in the country waiting to be upgraded and restored, said Ni Hong, minister of housing and urban-rural development at a press conference during the second session of the 14th National People's Congress in Beijing on 9 March.

Ni Hong indicated that in order to bolster the healthy development of the real estate sector, China will also ramp up efforts to build a new development model for the sector, with an aim to solve the current difficulties facing the housing market and promote its sound and steady development, said Ni Hong.

"Despite undergoing a transition period, China's real estate sector still enjoys great penitential and shows space for development in the mid-term to long-term." said Ni Hong.

Ni Hong stressed efforts to improve government-subsidized housing, with a focus on exploring new ways to increase the number of government-subsidized houses for sale. This will serve as a major move for the country to improve both its residential housing system and housing supply system.

Analysts believed it is foreseeable that the real estate sector will usher in a new policy adjustment in 2024. These adjustments will focus on the objective of stabilising the housing market.

"The regulation will be more refined. " Analysts indicated that policies will be different according to the situation of different regions and cities around China.

来源：中国青年报客户端