China fine-tunes regulatory policy

Steady and sound: A file picture showing a worker at a residential development site in China. The republic’s property industry has a size of 10 trillion yuan (US$1.5 trillion or RM6.55 trillion) involving scores of subsectors across the supply chain. — Bloomberg

BEIJING: China’s central and local authorities are fine-tuning housing policies to seek a balance between defusing risks and spurring demand, amid efforts to boost the steady and sound development of the property market.

While reiterating the principle that “housing is for living in, not for speculation,” a key meeting held last week by the Political Bureau of the Communist Party of China Central Committee called for efforts to improve real estate policies based on local realities.