Staying with rental markets. Fresh government data shows the home rental market in China's southern city of Shenzhen has surpassed 100 billion yuan. That's come as rents in the region have steadily increased over the past few years. What's behind the rise? David Deen has more.  

Data from property developer Centaline shows that rental prices in Shenzhen has grown over 8 percent on average in the past two years, with rent in some of the most populated areas even rising 15 percent. Data also shows Shenzhen's home rental market expanded 33 percent in the first 6 month in 2018 compared with a year ago.

HE KAIJIE REALTOR "Take the Futian District for example. For a standard 70-square meter apartment with two bedrooms and one bathroom, the rental price started at 8500 yuan a month in May and June. The rate could jump 20 to 30 percent after July to over 10,000 yuan a month."

Analysts say an increasing number of potential home-buyers have switched to rental markets due to high property prices. That significantly pushed up demand for rental homes. The rent for some public housing designed for mid- and long-term leasing is usually 15 percent higher than residential homes due to relatively high investment and maintenance costs.

HE KAIJIE REALTOR "For these rental apartments, if the monthly rent is 10,000 yuan, after the leasing contract expires, the price could be raised up to 13,000 or 15,000 yuan a month."

Regulators are keeping a close eye on the home rental market and have rolled out rules to prevent speculation and market over-heating. The central government also unveiled preferential policies to boost the leasing markets, such as giving renters the same access to education and social services as home owners. China's State Council expects a well-regulated and improved rental market system to be put in place by 2020. Analysts say that could significantly improve the country's urban residential housing conditions. David Deen, CGTN.