Market-oriented approach will bring dividends

Property | Cindy Chung and Ben Chow

A major principle held dear by the incumbent Chinese leadership is to let the market play the decisive role in the allocation of social and economic resources. This principle has been applied to the design and implementation of property policies, as efforts have been made to use market-oriented measures to replace administrative ones in steering the real estate industry, an important driver of the economy, in the past year and a half.

This mindset can be found in the following practice.