Official stresses efforts to cement recovery trend of property market

BEIJING - Ni Hong, minister of housing and urban-rural development, has urged continued efforts to consolidate the recovery trend of the property market.

At a symposium with property developers recently, Ni emphasized the significance of meeting residents' essential housing demand and their needs for better living conditions, called for fully implementing favorable measures, including lower down payment ratios and mortgage rates for first-time home buyers, and promised efforts to ensure the delivery of presold homes.

Stabilizing the construction and property sectors is significant to promoting a broader economic recovery, the Ministry of Housing and Urban-Rural Development has said.

The ministry has also urged building companies and property developers to actively participate in affordable housing projects, the renovation of villages in cities, and public facility construction.