MK sportseeking to maintain stability in the property market this year after the roller coaster ride of 2016, with measures to prevent surges in metropolises and the growing inventories in small cities.File photo:Xinhua" src="https://www.globaltimes.cn/Portals/0/attachment/2022/2022-03-02/1cd90247-86db-4398-b451-5756c763ad37.jpeg" />

China is seeking to maintain stability in the property market this year after the roller coaster ride of 2016, with measures to prevent surges in metropolises and the growing inventories in small cities.File photo:Xinhua

China's Ministry of Housing and Urban-Rural Development (MOHURD) and the National Financial Regulatory Administration jointly held a videoconference to ensure the delivery of housing projects, called for expanding the coverage of the "white list" to ensure all compliant real estate projects are "admitted as far as possible," according to a statement on the website of the MOHURD on Wednesday.

Observers said the conference is part of the country's ramped-up efforts to advance housing project deliveries and stabilize the real estate market, after major pro-growth macro policies were rolled out to support the property market in late September. 

The "white list" is a mechanism to ensure that eligible real estate projects get support in financing and sufficient development loans.

It is a key task to ensure urban housing delivery, facilitate the stable and sound development of the housing market and an effective measure to fend off property sector risks, said the statement. 

"The current stage is a crucial window of opportunity to advance housing work. It is also a crucial period to win the battle of ensuring housing deliveries," the meeting noted. It stressed that Chinese localities should step up efforts in the review, promotion and problem-solving of projects on the "white list," as well as facilitate bank lending, to effectively meet the reasonable financing needs of real estate projects.

With regard to financial institutions, the meeting called for them to establish and improve green channels and ensure the timely release of loans.

Yan Yuejin, a vice president at Shanghai-based E-house China R&D Institute, told the Global Times that he expected that there will be a gradual release of housing demand in the coming months, especially in first-tier cities, which have recently adjusted their property policies to boost housing sales.  

"As the 'white list' mechanism continues to take effect, there will be a further improvement in the financial situation of property developers, which would bolster homebuyers' confidence in making a purchase and consolidate the fundamentals of the real estate market," Yan noted.

The housing market has showed some signs of improvement during the week-long National Day holidays, as homebuyer's confidence was revived by a new package of stimulus measures announced by the authorities. 

On September 24, the People's Bank of China, the central bank, unveiled a new package of monetary measures, led by reductions in existing mortgage rates, in a bid to boost the country's real estate market and fire up consumer spending.

From October 1 to 6, the number of online signings for new homes in Beijing jumped 730 percent year-on-year while the number for secondhand homes surged 58 percent on a yearly basis, China Media Group reported. 

Subscriptions for new commercial residential units for sale in Shenzhen, South China's Guangdong Province reached 1,580 during the period, an increase of 780 percent over the same period last year.