China cabinet calls for roll out of property policies

Big problem: Construction workers at a site of unfinished apartments in Xinzheng City in Zhengzhou. China’s real estate industry is reeling from cash-strapped developers struggling to raise enough to complete homes they had already sold in advance. — AFP

BEIJING: China’s State Council called on cities to introduce policies to ensure the healthy development of their property markets, adding to the chorus of top policymakers stressing the importance of targeted measures for economic growth.

Cities should roll out measures that meet their own needs, a cabinet meeting chaired by Premier Li Qiang decided on Monday, according to China Central Television.