SHANGHAI – A Chinese city near Shanghai has relaxed rules to allow property owners to become permanent residents, a move that may help to addressThe eastern city of Ningbo will give so-called hukou, a passport-style regional permit allowing access to better medical and education resources, to anyone who purchased properties there, according to a rule posted on the local government’s website last week. The previous rule required applicants to work in the city.
Home sales in Ningbo plunged 58 per cent by area in the first three quarters, steeper than a 46 per cent average seen in similar cities, according to China Real Estate Information Corp. data. Second-hand home prices fell the most in more than seven years in the city in August, government figures show.
Since 2019, China has promoted freer movement of labour to cushion slowing growth, including by easing the hukou system. For cities with more than 5 million people, such as Ningbo, the system will be simplified, the State Council has said.
Source: Real Estate Daily Report (realestatedailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S.Korea may ease liquidity requirement rules for financial companiesSEOUL -South Korea may ease some of the liquidity requirement rules on financial companies as there are signs of stress in the short-term money market, the head of the top financial regulatory agency said on Thursday. Financial Services Commission (FSC) chief Kim Joo-hyun said his agency was watching the 'in
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China auto market faces slowdown as inventory builds - CMBISHANGHAI : Automakers in China delivered a record number of cars to dealers in the first nine months of the year even as retail demand slowed, setting up the market for a slowdown in 2023, a leading Chinese brokerage said on Wednesday.Automakers had delivered 1 million vehicles to dealers in China over th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Highlights of HK leader John Lee’s maiden policy addressMr Lee mapped out his priorities for the city which returned to Chinese rule in 1997. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Hong Kong leader makes luring global talent priority in first policy addressHONG KONG - Making his first policy address on Wednesday (Oct 19), Hong Kong Chief Executive John Lee prioritised improving competitiveness and attracting more overseas talent, while also stressing the need to bolster national security in the Chinese ruled city. While some Western governments including the United States have said the erosion of rights and freedoms has hurt Hong Kong's...
Source: asiaonecom - 🏆 10. / 59 Read more »