Weekend: China’s housing minister said government to promote purchase of existing housing

China’s housing minister, Ni Hong, spoke on Sunday

• said that the country’s property market is showing signs of improvement
• growing confidence among buyers
• market continued its positive trajectory in January and February, stabilizing after previous declines
• the government plans to encourage the purchase of existing homes and accelerate urban village redevelopment
• government will accelerate lending for ‘While List’ projects
• government will give more autonomy to local governments for affordable housing purchases
• local government special bonds to be used for purchasing idle land and housing stock

This article was written by Eamonn Sheridan at www.forexlive.com.