China to keep property market stable in 2018; focus on affordable housing

Beijing

CHINA aims to pursue "stable and healthy development" of the property market in 2018 with an increased focus on providing affordable housing and developing the rental market, Premier Li Keqiang said in a government work report released on Monday.

"China will maintain the position that homes are for living in, not for speculation," the report said, adding it will continue to adopt a differentiated approach on property policy, which suggests the government will continue to crack down on speculation to prevent bubble risks while destocking inventories in some smaller cities.