China Signals Loosening of Property Curbs as Xi's Mantra Omitted
Xi’s famous vow that “houses are built to be inhabited, not for speculation” didn’t appear in Premier Li Keqiang’s work report.
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China signaled it may be open to loosening controls over the housing market, after President Xi Jinping’s mantra that property isn’t for speculation was omitted from a key report to the National People’s Congress.
Xi’s famous vow that “houses are built to be inhabited, not for speculation” didn’t appear in Premier Li Keqiang’s work report delivered Tuesday to the annual parliamentary gathering in Beijing. Dropping the wording, which became ubiquitous after Xi used it in a speech in 2017, may spur speculation that the government will tolerate an easing of property curbs as it grapples with a sharp economic slowdown.