China’s housing regulator sees stabilisation signs: report

CHINA’S housing regulator is seeing signs of stabilisation and improved sentiment in the real estate market as a result of government stimulus measures, China News Service reported.

The government will continue to promote the recovery of the property market by taking measures including boosting demand, and reasonably controlling the supply of land for new development, the report said, citing Dong Jianguo, a vice-minister at the housing ministry. He was speaking at a conference on Saturday.

The collapse in China’s housing market over the past three years has dragged down economic activity as companies slash construction. At the December Politburo meeting, the government pledged to stabilise the stock market and the property sector. BLOOMBERG