China’s Easing of Residency Requirements Could Boost Cooling Property Market
Workers stand in front of a banner featuring images of high rise towers outside a construction site in downtown Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s latest step to encourage 100 million rural citizens to move to cities may provide a timely boost to a slowing property market.
Cities with an urban population of between 1 million to 3 million should scrap the residency registration system -- known as hukou -- this year, the National Development and Reform Commission said Monday. Cities with a population of 3 million to 5 million should substantially ease residency requirements.