China to accelerate housing reform in 2018

China will strive for marked results in accelerating housing reform in 2018 as it embarks on an era of high-quality development, according to the Political Bureau of the Communist Party of China (CPC) Central Committee. 

The bureau met on Friday under the chairmanship of Xi Jinping, general secretary of the CPC Central Committee, to analyze and study the economic work program for next year. 

“Pushing for high-quality development is the fundamental requirement for determining the development path, making economic policies and conducting macro-economic regulation at present and in the future,” said a document released after the meeting.

Three tough battles

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It said that China will seek solid progress against major risks, poverty and pollution next year, and an overall plan should be made to “ensure the winning of the three tough battles.”  

“China should contain the overall leverage ratio and raise the financial sector's capability of serving the real economy to prevent and defuse major risks,” the document said.

For targeted poverty relief, it said the country must provide precise support for special impoverished groups, including the disabled, the elderly and students in poverty, as well as intensify efforts in regions of abject poverty.

For pollution control, China should continue to reduce the emission of major pollutants to improve the quality of the environment.

The document said the country will adhere to "seeking progress while maintaining stability." 

High-quality development

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At a symposium attended by representatives of non-Communist parties and those without party affiliation on Wednesday, Xi had said that the economy is transitioning from a phase of rapid growth to one of high-quality development.

Achieving such a level of development is imperative for China to maintain sustainable and healthy development of the economy and society, he said.

It must also work to fully build a modern socialist country, Xi added.

Source(s): Xinhua News Agency