Nation to further shore up housing with policy tools

Flexible home credit policies will be executed in accordance with the specific condition of each city's property market, and financial policies should be well and fully used to serve the real economy, official sources said.

During a joint meeting held on Tuesday focusing on financial sector's support to the real economy, the People's Bank of China, the nation's central bank, and the China Banking and Insurance Regulatory Commission stressed upholding the positioning of "housing is for living in, not for speculation", and various housing credit policies should be applied from city to city to better meet homebuyers' rational housing requirements, according to the PBOC's official website.

To this end, a prudent management system should be executed in real estate finance, risks between projects and corporates should be differentiated, and property financing should remain stable and orderly, the meeting said.