The Committee on Economic Affairs of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a videoconference on the development of China's housing rental market in Beijing on July 21.

Gao Yunlong, vice-chairman of the CPPCC National Committee and chairman of the All-China Federation of Industry and Commerce, delivered a speech at the conference, the topic of which will also be discussed during the Ninth Teleseminar of the CPPCC National Committee which is slated to be held in late September.

Gao called for fully recognizing the significance of the policy of supporting both housing purchases and rentals which is designed to accelerate China's urbanization process, boost employment and protect the legitimate rights and interests of middle and low-income people.

He also stressed the need to summarize the experience of Zhejiang province in implementing the policy, enhance the building of a corresponding legal system, optimize the structure of the country's housing rental market, and stick to the principle that housing is for living in, not for speculation. 

In addition to the main venue in Beijing, the conference also had a sub-venue at the CPPCC provincial committee in Zhejiang.