Heilongjiang Says It Will Subsidize Homebuyers to Spur Demand

(Beijing) – Authorities in Heilongjiang are set to offer subsidies to homebuyers in a bid to reduce a large stockpile of unsold homes in the rustbelt province in China's northeast.

Provincial official said in a statement released on April 22 that they ordered lower-level governments to survey their stockpile of homes and work out detailed subsidy programs to prop up the housing market.