Two Sessions 2021: Government Urged to Tackle Housing Crisis
A public rental housing development is under construction in Beijing on Sept. 22. Photo: VCG
Chinese leaders have dwelt on the country’s housing crisis during the ongoing “Two Sessions” annual political meetings in Beijing.
In recent years, many Chinese cities have suffered from high home prices, unaffordable rents, social housing shortages, unscrupulous property agents and monopolistic real estate practices.
The problems are particularly acute for young people. A 2018 survey of more than 2,000 Chinese people aged between 18 and 35
found (link in Chinese) that four-fifths thought making rent was a “great financial burden.”
In his annual government work report last week, Premier Li Keqiang stressed that China must “properly safeguard the masses’ demand for housing,” reiterating that “homes are for living in, not for speculating on.”