China ups support for housing rental market

This aerial photo taken on June 23, 2023 shows residential buildings along the Xuyan River, a tributary of the Jinjiang River, in Chengdu, capital of southwest China's Sichuan Province.(Xinhua/Jiang Hongjing)

BEIJING, Jan. 6 (Xinhua) -- China's financial regulators on Friday issued a guideline to provide stronger support for the housing rental market.

A financial support system for housing rentals will be established and improved to mainly address the needs of new urban residents and young people in major cities, according to the document released by the People's Bank of China and the National Administration of Financial Regulation.

The focus will be on encouraging the development of specialized and large-scale housing rental enterprises with self-owned properties.

Specifically, there will be more credit to rental home development and operation, and better financial services for related businesses. The sector will also be granted diversified financing channels, including bond issuance, real estate investment trust funds, and social investment.

While stepping up supportive policies, authorities will work to contain related financial risks, such as toughened credit fund management and clear and strict business boundaries, which will be designed to address speculation.