FILE - This photo released by Xinhua News Agency shows an aerial view of the construction site of the 2nd phase project of the Nanjing Financial City designed as an architectural complex comprising offices, hospitality, housing and commercial facilities in Nanjing, east China ’s Jiangsu Province, on Jan. 16, 2024.
Liu Aihua, spokesperson for the bureau, said that in keeping with policies set by the Communist Party leadership, there was a need to find ways to balance supply and demand, meet public expectations for high-quality housing and “seize the opportunity to build a new model of high-quality development of the real estate sector.”
China’s housing market has slumped after a crackdown on excessive borrowing by property developers several years ago, dragging along a wide range of other businesses and slowing growth in the world’s No. 2 economy.AP Week in Pictures: Asia Some local governments are buying apartments that are going unsold due to weak demand, with plans to rent them out as affordable housing in trial programs that may become national policy.
Source: News Formal (newsformal.com)
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