Chinese vice-premier stresses timely delivery of homes to buyers

ZHENGZHOU -- Active financing support should be extended to compliant real estate projects to ensure that homes are delivered on time to buyers to protect their legitimate rights and interests, Chinese Vice-Premier He Lifeng has said.

During an inspection tour on Saturday and Sunday to understand the real estate market in Zhengzhou, the capital city of Central China's Henan province, He, also a member of the Political Bureau of the Communist Party of China Central Committee, said the delivery of good-quality homes on time will help stabilize expectations and promote the steady and healthy development of the real estate market.

He said that a "white list" mechanism for real estate projects should be optimized so that compliant projects on the list can access funding at ease.

"For projects included in the white list, financial institutions should optimize the loan approval and disbursement process, speed up lending, and support the completion of projects," he said.

He said that great changes have taken place in the supply and demand relationship in China's real estate market, stressing the needs to speed up nurturing a new model for the sector's development, particularly the construction of affordable housing, the renewal of urban villages, and the development of dual-use public infrastructure.