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China's Housing Ministry: Real Estate Enters Stock Era
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At a State Council Information Office press conference on September 18, officials from China's Ministry of Housing and Urban-Rural Development outlined key transformations for the housing and urban-rural development sector during the 15th Five-Year Plan period. The sector is described as being at a critical stage of transformational development, summarized as 'two shifts, two transitions, and three transformations.' The 'two shifts' refer to urbanization moving from rapid growth to stable development, and urban development shifting from large-scale incremental expansion to quality and efficiency improvements within existing stock. The 'two transitions' in housing and real estate include significant changes in supply-demand relationships and the sector entering an era dominated by existing stock. The 'three transformations' in the construction industry involve a shift toward intelligent, green, and integrated development. The statements were reported by CCTV News and relayed by Jin10 Data.
Source report
Jin10 Data, September 18 — The State Council Information Office held a press conference today as part of its series themed "Starting Strong in the 15th Five-Year Plan." Officials from the Ministry of Housing and Urban-Rural Development stated that the sector faces new circumstances during the 15th Five-Year Plan period.
The housing and urban-rural development sector comprises three main areas:
- Urban and rural construction
- Housing and real estate
- The construction industry
All three areas are at a critical stage of transformational development, summarized as "two shifts, two transitions, and three transformations."
The "Two Shifts" (Urban and Rural Construction)
- Urbanization is shifting from a phase of rapid growth to one of stable development.
- Urban development is moving from large-scale incremental expansion to a stage focused on improving quality and efficiency within existing stock.
The "Two Transitions" (Housing and Real Estate)
- Significant changes have occurred in the supply-demand relationship in the real estate market.
- The real estate sector has entered an era dominated by existing stock.
The "Three Transformations" (Construction Industry)
The construction industry is transitioning toward:
- Intelligent development
- Green development
- Integrated development
(Source: CCTV News)
Source
金十数据Eastern
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China’s housing ministry declares real estate sector has entered existing stock era