China plans to intensify efforts in 2025 to stabilize its housing market, addressing challenges in the real estate sector, including the rising demand for affordable housing and urban renovations.
According to a recent work conference by China's housing regulator, the government will continue reforms to stabilize the real estate market and prevent further declines.
Key initiatives include expanding urban village renovations and strictly controlling commercial housing supply while boosting affordable housing options. These measures aim to address the needs of new citizens, young people, and migrant workers.
Policymakers have already implemented strategies since September to revive home demand, such as cutting mortgage rates, reducing down payments, and offering tax incentives.
As a result, the real estate market has shown signs of recovery, with home transactions experiencing growth in October and November. The slow pace of falling home prices marks a positive shift for the industry heading into 2025.
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U.S. and Chinese officials are holding talks in Stockholm on Monday to extend a truce in their trade war, aiming to avert a tariff surge and lay groundwork for a possible Trump-Xi summit.
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A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
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