Housing consumption to be key growth driver

Housing consumption is expected to serve as a key economic stabilizer for local governments this year, as a number of cities and provinces are including promotion of housing consumption in their development plans.

Experts predicted a noticeable recovery of the housing market in the second quarter, with home consumption playing an important role in driving up the economy.

Shanghai said on Jan 29 that it would work this year to strengthen housing demand, meet reasonable financing requirements of property developers and ensure the stable and healthy development of the local real estate market.