Welcome back to China 24. It's been almost a year since China announced the establishment of Xiong'an New Area, a special economic zone about a hundred kilometers southeast of Beijing. Policies on the housing market of this new region are now under discussion. Ning Hong has the story.

It is a common consensus now that Xiong'an will opt against the sale of land, instead pushing forward a leasing system.

YIN HUILIANG, DIRECTOR PLANNING RESEARCH CENTER CHINA ACADEMY OF URBAN PLANNING & DESIGN "We need to control market expectation during the construction process, to ensure the housing supply for local residents and young people who have stable jobs."

Experts are suggesting the introduction of a points-based leasing system and long-term lease measures in the city. They are also proposing a diverse supply system which includes public rental housing, shared property rights housing and commercial housing. New technologies will also be introduced such as big data and blockchain technology. The hope is to ensure a transparent, stable and fair housing market to boost entrepreneurship and economic growth.

ZHANG DAYU, DEPUTY PRINCIPAL BEIJING UNIVERSITY OF CIVIL ENGINEERING AND ARCHITECTURE "The points-based system could be integrated with employment, education and social welfare, which I think could be attractive for young people. And the reorientation of industry planning here, requires us to give relief to young people from the burdens of housing prices."

As the new area starts to take shape, details on overall planning are expected to be released this year.

NING HONG XIONGAN NEW AREA "A million people are now living in the Xiong'an New Area, most of whom are in surrounding rural areas. As the city grows, more will rush in. The target of a point-based system is to ensure relief from the burden of housing prices, help the city attract talents, and fence away speculators. NING HONG, CGTN."