Chinese premier calls for efforts to refine real estate policies

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Homebuyers gather information about properties at a sales office in Beijing on Jan 5, 2024./ CFP

Chinese Premier Li Qiang presided over a State Council executive meeting on Friday. The meeting heard reports on optimizing real estate policies and called for efforts to refine related policies further, ensuring the delivery of housing projects, and that real estate financing coordination mechanisms deliver tangible results.

Related support policies should be made systematically to tap into potential housing demand and increase the supply of high-quality housing, promoting the steady and healthy development of the real estate market, attendants heard.

Chinese Premier Li Qiang speaks at a video conference on promoting the prevention and resolution of local government debt risks on March 22, 2024./ Xinhua/Liu Bin

Also on Friday, Chinese Premier Li Qiang spoke at a video conference on promoting the prevention and resolution of local government debt risks.

Defusing the debt risks will be a tough and protracted battle, Li said.

All regions and government departments should strengthen their sense of responsibility to resolve existing debt risks and prevent new debt risks, Li added.

Efforts should be made to defuse risks on financing platforms and clear outstanding payments owed to enterprises, he said.

He also noted the importance of efforts to build a government debt management mechanism in accordance with high-quality development, fine-tune the investment and financing systems of local governments, and improve the long-term mechanism to prevent outstanding payments.

(With input from Xinhua)