China housing regulator: stabilize the real estate market in 2025

China will continue to stabilize and prevent further decline of the property market in 2025, according to a work conference held by China's Ministry of Housing and Urban-Rural Development on Tuesday and Wednesday.

China will vigorously support housing demand, and give full play to the role of the housing provident fund, said the conference.

In addition, China will promote reform of the commercial housing system, improve the quality of residential buildings, and expand the scope of urban village reconstruction.

Zhang Renyuan, director of corporate ratings at S&P Global (China) Ratings, said the decline in China's commercial housing sales will narrow in 2025, and the urban village reconstruction program will be key to market stabilization.

He added that after the implementation of the monetized resettlement policy, resettlement demand will be gradually transformed into commercial housing contracts within 2 years.

This will provide a significant boost to the Chinese real estate market in high-tier cities, he said.