China’s land ministry has announced that it will seek to expand the country’s residential land supply by withdrawing from its position as monopoly provider.
According to the state-owned Xinhua News Agency land and resources minister Jiang Daming (姜大明) said that the Chinese government “will no longer be the sole provider of residential land,” and will instead “push for the establishment of a residential housing system with multiple suppliers and multiple channels, to ensure that equal play is given to both leasing and purchasing, enabling the whole people to have domiciles in which to live.”
According to Jiang the Chinese government will formulate new administrate measures to allow non-real estate developers to obtain usage rights to land for residential purposes, as well as expand trials for the construction of residential housing on rural collective land.
The Chinese central government has recently launched a slew of policies to expand the supply of housing in key urban centres, including fostering the development of the long-term leasing market and joint property rights for housing.
