(Yicai Global) Sept. 7 -- China's housing ministry said it will stick with the city-specific approach to regulating local real estate markets given the different situations in individual markets.
A national real estate inventory and transaction monitoring platform will also be set up, making monitoring routine, the ministry said in a statement yesterday. It is the first time the ministry has publicly commented on real estate regulation since the National People's Congress and Chinese People Consultative Conference in March.
A raft of Chinese cities have rolled out new property market policies to ensure steady and healthy development. In just the past few days, Suzhou, Nanjing, Xiamen and Wuhan have introduced measures to curb over-heating in their property markets.
The ministry also said efforts will be made to introduce residential land supply management based on systematic categorization, and to improve and implement differentiated tax and lending policies. It will also set up a transparent and standardized housing provident fund system to enhance mechanisms regarding housing fund withdrawal, use and regulation, and support reasonable residential property purchases among the public.