China to increase financial support for rental housing market
Updated 14:06, 25-Feb-2023

The People's Bank of China and the China Banking and Insurance Regulatory Commission have come out with a draft proposal that aims to increase financial support for the rental housing market. The central bank said the move will help promote the stable and healthy development of the property sector.

Steps will be taken to encourage innovation in credit products and services, expand and diversify investment and financing channels, as well as strengthen financial management of the rental housing market, according to the draft.

Efforts will also be made to establish a financial monitoring and evaluation system for housing leasing, and prevent financial risks of housing leasing, according to the draft.

Focus will be put on providing diversified, multi-level and full-cycle financial products and service systems for the investment, development, operation and management of rental housing, it added.

The authorities are seeking public opinions on the plan till March 26.

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