Dec 26, 2023 10:01 AM

CX DAILY

CX Daily: China Renews Affordable Housing Push to Ease Crunch

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The government has been building subsidized affordable housing since the early 1990s when it began allowing private property purchases

The government has been building subsidized affordable housing since the early 1990s when it began allowing private property purchases

Housing /

Cover Story: China renews affordable housing push to ease crunch

Policymakers in China are making renewed pledges to promote the construction of affordable housing, in the latest attempt to reverse more than three years of decline for the country’s property market.

Plunging sales and defaults by developers are taking a toll on the world’s second-largest economy, where the real estate sector, along with related industries, accounts for about 14% of GDP.

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