Proposals made to improve China’s property market

Country:  China

10 February 2009

A stimulus plan to boost China’s property sector has been submitted to the state council, for discussion and approval, reports China Daily.

Nie Meisheng, president of China Real Estate Chamber of Commerce, the Ministry of Housing and Urban Construction, says that the industry is looking for ways to shore up China’s long-term housing future.

"The draft plan includes suggestions for affordable housing construction, more policy support on giving out loans to property developers, and more innovative financial products to meet property firms' financing demand," Meisheng told China Daily.

Meisheng firmly believes that should the plan pass, the country's property market will improve during the second of this year.

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