China's Housing Ministry: Real Estate Enters Stock Era, New Standards Raise Floor Height to 3 Meters
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On September 18, Chen Shaowang, Vice Minister of Housing and Urban-Rural Development, announced at a State Council press conference that during China's 15th Five-Year Plan period, the real estate sector has entered an era dominated by existing stock, shifting from large-scale incremental expansion to optimizing existing stock and improving quality. The ministry outlined five key objectives, including modernizing cities, improving living standards, upgrading the construction industry, enhancing global influence in human settlements, and strengthening foundational support for high-quality development. To improve living standards, MOHURD raised the minimum floor-to-ceiling height standard from 2.8 to 3 meters, mandated elevators in all residential buildings four stories or higher, and increased guardrail heights to no less than 1.2 meters for child safety. The ministry also plans to promote AI, smart cities, and smart home technologies through a digital housing work plan.
Source report
On September 18, Chen Shaowang, Vice Minister of Housing and Urban-Rural Development and spokesperson for the ministry, stated at a press conference hosted by the State Council Information Office that during the 15th Five-Year Plan period, efforts in housing and urban-rural development will strive to achieve five key objectives:
- Significant progress in building modernized cities centered on the people
- New improvements in residents' living standards
- Notable achievements in upgrading the quality of the construction industry
- Markedly enhanced global influence in the field of human settlements
- Comprehensive strengthening of the foundational support for high-quality development
New Circumstances Facing the Sector
During the 15th Five-Year Plan period, the sector faces new circumstances:
- Urbanization is shifting from a phase of rapid growth to one of stable development
- Urban development is transitioning from large-scale incremental expansion to a stage focused primarily on optimizing existing stock and improving quality and efficiency
- The real estate sector has entered an era dominated by existing stock
- The construction industry is undergoing transformation toward intelligent, green, and integrated models
Advancing Quality Upgrades in the Construction Industry
In advancing the quality upgrade of the construction industry, the key lies in delivering high-quality building products. The Ministry of Housing and Urban-Rural Development (MOHURD) will:
- Deepen reforms in the construction sector
- Strengthen oversight of quality and safety
- Regulate market order
- Vigorously rectify irregularities in bidding processes and issues related to overdue payments for construction projects
Enhancing Residents' Living Standards Through "Good Homes"
According to Chen, enhancing residents' living standards during the 15th Five-Year Plan period hinges on building "good homes." This requires a full-chain, life-cycle approach encompassing good standards, good design, good materials, good construction, and good operation and maintenance.
Key updates to residential standards include:
- Ceiling height: The minimum floor-to-ceiling height standard has been raised from the previous 2.8 meters to 3 meters
- Elevator installation: All residential buildings four stories or higher must now be equipped with elevators, addressing mobility challenges for elderly residents
- Child safety: The height of guardrails at all open edges, including balconies and external corridors, has been uniformly increased to no less than 1.2 meters
Strengthening Foundational Support for High-Quality Development
Chen noted that consolidating the foundational support for high-quality development relies on strengthening the base and reinforcing support systems. MOHURD has formulated a work plan for digital housing and urban-rural development during the 15th Five-Year Plan period, promoting artificial intelligence, smart cities, and smart home technologies.
(Source: Securities China)
Source
东方财富网-港股导读Eastern
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