Chinese vice premier urges efforts to ensure delivery of housing projects

BEIJING — Vice Premier He Lifeng on Friday urged efforts to push forward the construction of government-subsidized housing, dual-use public infrastructure that can accommodate emergency needs, and the redevelopment of urban villages.

He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks at a teleconference focused on ensuring the delivery of housing projects.

Efforts should be made to address risks concerning unfinished commercial housing projects, ensure the delivery of housing projects and push forward the de-stocking of commercial housing, he said.

He said the real estate market involves people’s immediate interests as well as the country’s overall economic and social development, calling for efforts to categorize and promote the disposal of under-construction commercial housing projects that have been sold but are hard to deliver.

Local governments of regions where there are relatively large commercial housing stocks are allowed to buy some homes at reasonable prices and provide them as affordable housing, according to He.

He also urged continued initiatives to fend off and defuse debt risks concerning property developers, and ensure the delivery of housing projects in an orderly and effective manner.

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