Baidu homepage login exclusive|China will promote a new round of "housing reform"
The executive meeting of the State Council adopted the document "Guiding Opinions on Planning and Construction of Affordable Housing" (Guo Fa [2023] No. 14) on August 25, and officially issued it on September 1. The document clarifies the goals of affordable housing, requires increasing the construction and supply of affordable housing, promotes the establishment of a new model of transformation and development of the real estate industry, and returns commercial housing to commodity attributes. The document proposes that affordable housing should be provided by local governments in accordance with the principle of "affordable wage income groups, balanced project funds, and sustainable development", and local governments should provide land and be responsible for the construction of supporting facilities according to the allocation method, and on this basis, adopt market-oriented operation and be placed according to the principle of guaranteed capital and low profit. At the same time, all localities are required to do a good job in project risk assessment, and "all hidden debts of local governments that are added because of this shall not be implemented." The document requires prudent and orderly, according to the needs of construction, to do our best and to do what we can. The document also puts forward the basic principles of protection targets, placement plans, support policies, etc., and the specific implementation measures are formulated by local city governments. The document requires all localities to do a good job in policy convergence and coordinate the relationship between affordable housing and public rental housing, affordable rental housing and commercial housing. The document requires cities with a population of more than 3 million to take the lead in exploring practice, cities that have the conditions to accelerate their promotion, and those that do not have the conditions to do a good job in policy and project reserves. The document requires that cities with large commercial housing inventories can appropriately reconstruct or purchase stock commercial housing for use as social housing in accordance with the principles of marketization and rule of law, and actively revitalize the use of idle land and houses to avoid waste caused by repeated construction. The document requires that it be combined with the transformation of urban villages, urban renewal, and the renovation of dangerous old houses, and steadily advance. The document proposes to strengthen policy support for affordable housing in terms of construction funds, housing provident funds, development loans and personal housing loans, taxes and fees.
