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China’s government plans to cap the growth of home rents in cities to rein in runaway housing costs and eyes "notable improvement" in real estate market order within three years, after years of crackdowns failed to make urban housing more affordable.
Home rents in Chinese cities will not be allowed to increase by more than 5 per cent per year and the authority will make efforts to ensure a balanced supply and demand in the rental market, the Ministry of Housing and Urban-Rural Development said on Tuesday.
“New immigrants to our cities and . . .
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