Long-term leasing gets more impetus

Top authority's move reflects shift in real estate regulation from demand to supply

China will uphold long-term leasing as a cornerstone in developing the rental housing market, with a spate of policies on the way to encourage people to rent instead of buying.

The first official reference to "long-term leases" during the annual Central Economic Work Conference, which concluded on Wednesday and charted the economic development course for next year, suggested Beijing is determined to drum up support for the leasing market, experts said.