Vice premier stresses healthy housing market development

Chinese Vice Premier Han Zheng on Monday demanded solid efforts to promote stable and healthy development of the housing market.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks at a symposium during an inspection at the Ministry of housing and Urban-Rural Development.

Currently, the housing market is generally stable with more rational market expectations, he said, adding that policies should be adjusted to local conditions to resolve specific problems.

Han urged upholding the principle of "housing is for living in, not for speculation" and establishing a long-term mecHanism for stable and healthy development of the market.

Steady progress should be made in advancing pilot programs of the mecHanism, and the establishment of a big data-based national property market monitor system should be accelerated, Han said.

Local governments should shoulder primary responsibilities in regulating the market, while provincial-level authorities should fulfill their duties in monitoring and guiding the development, he said.