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<CN Home>NBS Calls for Stronger Efforts to Stabilize Property Mkt
Sheng Laiyun, Deputy Director of China's National Bureau of Statistics (NBS), stated at a press conference held by the State Council Information Office that local governments a...
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<CN Home>NBS Calls for Stronger Efforts to Stabilize Property Mkt
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Sheng Laiyun, Deputy Director of China's National Bureau of Statistics (NBS), stated at a press conference held by the State Council Information Office that local governments and departments have been implementing city-specific policies in line with the central government’s decisions and requirements to stabilize the real estate market since the beginning of this year.

Statistical data showed that these measures have produced noticeable results, pushing the overall real estate market toward stabilization and recovery, Sheng said. The results were reflected in several ways including the narrowed decline in commercial housing sales, improved sources of funding for the real estate market, and a drop in real estate inventories for four consecutive months.

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Sheng also emphasized that it is a normal phenomenon that both the sales area and prices of real estate are still declining YoY as real estate bottoming out and transforming are a process. Stronger efforts will be needed to stabilize the real estate market, he added.

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