Xiongan uses new housing system

Xiongan New Area in Hebei province is exploring the establishment of a housing system that handles both rentals and housing price controls and strives to meet the housing needs of all people in the area.

"The system is good for healthy urban development, can allow our people to gain a stronger sense of fulfillment and happiness, and can also help Xiongan attract advanced development resources," Liu Baoling, executive deputy director of the administrative committee of Xiongan, said at a seminar on Saturday.

Previous urban development was mostly driven by the real estate market, which has pushed up housing prices and affected the pace of development, Liu said, adding that Xiongan should innovate and create a new housing system to adapt to the area's role as an innovation hub.