China’s Call for ‘Open Mind’ Spurs Hope of New Housing Measures
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China urged officials to keep an “open mind” over policies to reduce housing inventory, a signal that led Wall Street economists to predict new measures and additional funding in Beijing’s bid to shore up the market.
The State Council, the country’s cabinet, asked officials to keep formulating new policies that will absorb existing housing stock and stabilize markets, according to a statement posted on the government’s website late Friday before the start of a three-day public holiday. “We should steadily and concretely push forward the work of digesting and revitalizing existing homes and land with an open mind and broadened thinking,” it said.