Last Tuesday, China’s April Politburo meeting vowed to cut property inventory, piquing the market’s interest. The meeting of the China’s 24-member leadership body underlined the need to reduce current inventories and improve future supply policies. With the removal of China’s ideological stance that “houses are for sheltering, not for speculating” and with a new resolve to “study how to digest the existing housing inventory and optimize the new housing supply,” the focus looked to be more market-oriented.
In a report on the April 30 meeting, Chinese Communist Party (CCP) mouthpiece Xinhua news said that the Politburo meeting “demanded research on policies to reduce housing inventory and improve the quality of newly-added housing, noting that efforts should be pushed ahead to establish a new model of the real estate sector to promote its high-quality development.”
