China’s top policy makers said they will scrap cash subsidies for new projects to tear down and redevelop shantytowns in cities with low housing inventory and hot property markets, a further sign that the government is scaling back from a policy that has been a key factor propping up property markets over the past couple of years.
An executive meeting held by China’s State Council on Monday called for cities that see inadequate housing inventory and an upward pressure on housing prices to stop handing out cash subsidies for shantytown redevelopement projects as soon as possible.
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you.
What you'll get:
- Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
- Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
- Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?
Already have an account? Sign In