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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Azerbaijani President Ilham Aliyev and German President Frank-Walter Steinmeier have discussed regional developments, transport connectivity, energy cooperation and the Azerbaijan-Armenia peace process during talks in Berlin.
India and Myanmar are expanding cooperation on rare earths as New Delhi seeks to reduce its reliance on China for critical minerals. The move follows a series of Indian visits to Myanmar and comes amid growing global competition for resources used in clean energy and high-tech industries.
The owner of a Michelin two-star restaurant in South Korea is facing a year in prison for serving a dessert topped with black ants.
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The UK government has nationalised British Steel, taking full ownership of the country's only primary steelmaker from its Chinese owners to safeguard the future of the UK's steel industry.
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