Better housing plan to help attract talent

200,000 residential units to be built or converted into rentals in 2018

Shanghai will enhance its effort to foster the residential leasing market this year by accelerating real estate development as well as offering support for professional home leasing companies and institutions, said Shanghai Mayor Ying Yong during the ongoing annual session of the city's People's Congress.

The effort is aimed to quell speculation in the housing market and make the city attractive to young talent, who have become the city's "primary resources" - as Ying put itin building itself into a global city of excellence.