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CN Govt to Hold Multi-Bureau Meeting This AM on Policy Suggestions to Clear Home Inventory - Wire
The Chinese government plans to hold a meeting with key officials this morning (Friday, 17 May) to discuss the property market, including a proposal to clear excess inventory, with...
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CN Govt to Hold Multi-Bureau Meeting This AM on Policy Suggestions to Clear Home Inventory - Wire
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The Chinese government plans to hold a meeting with key officials this morning (Friday, 17 May) to discuss the property market, including a proposal to clear excess inventory, with senior officials from the housing department, financial regulator, local governments and state-owned banks attending the meeting via video, Bloomberg reported, citing sources.

It was earlier reported that the authorities were considering the purchase of unsold properties by local governments. It was reported that the State Council would collect feedback from relevant organisations by the end of this month and complete the final draft next month, but the Ministry of Housing and Urban-Rural Development (MOHURD) has not responded to the report.

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The State Council Information Office will hold a regular press briefing at 4 pm today to introduce the supporting policies to ensure the delivery of housing, which will be attended by the MOHURD, the Ministry of Natural Resources (MNR), the People's Bank of China (PBOC) and the National Financial Regulatory Administration (NFRA).

Caixin.com reported that the departments may announce new measures to deal with the property crisis, and officials will discuss expanding the scope of the white list of support developers to include previously ineligible property projects.

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