People In The Know

This year's annual central economic work conference has concluded, with the Chinese government vowing to continue its structural economic reforms and innovation-driven strategy.The leadership is giving priority to reforms on the supply side, which aim to lift production levels and to use land, labor and capital more efficiently.Several detailed measures have been put forward for the reform, concerning reducing industrial overcapacity, deleveraging, and lowering business costs.Another significant aspect of the measures regards the property sector.A statement issued after the meeting says the government will promote mergers between different property developers, encouraging them to lower housing prices.It also encourages rural residents to relocate to urban areas and to be allowed to register as city residents, enabling them to buy or rent property.The central government has also pledged to populate a low-rent public housing program to cover those without household registration.So will these m