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China's central government stresses differentiated measures for housing market control


09-07-2016 15:01 BJT

China says it will strengthen measures to control the country's booming real estate market.

In a document released by the Ministry of Housing and Urban-Rural Development, emphasis was placed on differentiated measures in accordance with local home markets. The document says the housing sector should match economic development and resident demands.

The ministry says it will establish a platform to monitor China's unsold properties and transactions.

It also urges local governments to improve the management of the housing provident fund, in order to support contributors' housing expenditure. In recent months China's housing market boom has been expanding from first-tier cities to second-tier cities amid low interest rates. The situation has made home ownership more expensive for many people.

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