China’s Shenzhen Joins Major Cities in Easing Home-Buying Rules

China’s tech hub of Shenzhen followed other large cities in easing home-buying rules in the latest attempt by authorities in Asia’s biggest economy to contain a prolonged property crisis.

The city will remove home-purchase restrictions for both local families and those without local household registration — also known as “hukou” — who have paid social security or individual income tax for at least one year in six districts including Luohu, Bao’an and Longgang, according to a statement issued on Friday night by the local government’s housing bureau and the People’s Bank of China’s Shenzhen branch.