Proactive

Beijing has introduced 10 policies over the past 18 days to rein in surging housing prices, including raising the down payment for second homes, imposing stricter tax regulations on residents without a local household registration (hukou), and shutting down real estate agencies for illegal operations, in a bid to promote the stable and healthy development of the property market. According to Beijing Daily, these policies will not only cool down the city’s overheating housing market but also provide low-rent public housing for residents in need.