China Reiterates Stance That Homes Are Not for Speculation
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China reiterated a stance that homes are for residents to live in, and not for speculation, keeping to its longstanding position even as a property crisis weighs on demand.
“We must adhere, to the very end, the belief that housing is for living in, not for speculation,” China’s Housing and Urban-Rural Development Minister Ni Hong said at a press briefing in Beijing on Saturday. “The government guarantees basic housing needs, and the market fulfills other diversified housing requirements and systems, establishing a market for both renting and buying.”