China has pledged to stabilize its property market and optimize the structure of its housing supply, according to an official government report cited by Reuters. Authorities plan to make better use of existing commercial housing stock, including purchasing unsold homes and converting them into government-subsidized units to help reduce excess inventory.
Beijing said it will explore “various avenues” to absorb the large backlog of unsold properties, while promoting the orderly construction of higher-quality housing to lift overall living standards. The government also aims to speed up the renovation of dilapidated urban housing, both to improve residential conditions and to support domestic demand.
In addition, officials vowed to expand the supply of subsidized housing, underscoring their commitment to stabilizing the real estate sector and addressing structural imbalances between housing supply and demand.
