Market-oriented measures underlined for realty sector

Supportive financing tools, effective use of idle resources seen as way-out

The Chinese real estate market is now grappling with a complex set of challenges as it navigates an environment characterized by an oversupply of properties relative to demand. While the issue of unsold homes has received significant attention, effective utilization of idle land resources is of equal importance, analysts said.

Market-oriented measures such as refinancing instruments, special-purpose funds, tax incentives and land function adjustments should be leveraged to unlock the potential of plots that remain idle or underutilized and facilitate the rebalancing of the current property market — still a pivotal sector in the world's second-largest economy, they added.

The tone-setting third plenary session of the 20th Central Committee of the Communist Party of China, which concluded on Thursday, placed great emphasis on the effective implementation of measures to prevent and mitigate risks in the real estate sector.