China to Target ‘Unregulated’ Expansion in Property Market
- Premier Li calls for risk prevention in major developers
- China sets modest growth target as economic headwinds persist
Early indicators show that the $1.9 trillion new home market remains fragile, as buyers are back on the hunt but not quite ready to invest.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China said it will target disorderly expansion in the property sector, as policy makers seek to strike a balance between boosting economic growth and defusing financial risks.
Efforts should be made to prevent “unregulated” expansion in the property market to promote its stable development, Premier Li Keqiang said at the annual session of the National People’s Congress — the Communist Party-controlled parliament.