The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) held its 33rd briefing session on issues of major concern in Beijing on Feb 4, focusing on promoting stable, healthy, and high-quality development of the real estate market. Wang Yong and Gao Yunlong, vice-chairpersons of the CPPCC National Committee, attended the session.

Dong Jianguo, vice-minister of housing and urban-rural development, addressed the session. He stated that after more than 20 years of rapid development, China's real estate market has significantly improved housing conditions for residents and strongly supported urbanization as well as economic and social progress. He noted that the supply-demand dynamics in the real estate market have undergone major changes. The ministry has resolutely implemented the decisions and plans of the Central Committee of the Communist Party of China (CPC) and the State Council by implementing a package of policy measures together with other relevant government departments, fully completing the task of ensuring housing delivery, and firmly upholding the bottom line of preventing systemic risks, he said.

The ministry will actively identify, respond to, and pursue changes while balancing risk prevention and promoting transformation, as well as improving public welfare and stabilizing growth, to accelerate the establishment of a new model for real estate development and promote stable, healthy, and high-quality development of the real estate market, noted Dong.

Zhang Wentong, vice-minister of natural resources, reported that the Ministry of Natural Resources has thoroughly implemented the decisions and plans of the CPC Central Committee and the State Council, and continuously reformed and improved the residential land supply system, focusing on key measures of control, adjustment, revitalization, activation, and regulation. These efforts have provided solid support for halting the decline and stabilizing the real estate market, facilitating the industry's transition to a new development model. Moving forward, the ministry will closely align its efforts with the requirements of high-quality development, persistently optimize land supply management, and refine the land supply mechanism linked with the housing market, Zhang said. These efforts will foster a positive cycle between the real estate and land markets and provide stronger support for the sustained, stable, and healthy development of the real estate industry, Zhang added.

At the meeting, CPPCC members also discussed issues such as balancing the relationship between optimizing supply and stabilizing the real estate market and how to ensure the effective implementation of the policy encouraging de-stocking of existing commercial housing.

The meeting was presided over by Miao Wei, deputy head of the Committee on Economic Affairs of the CPPCC National Committee. Attendees included members of the CPPCC National Committee and representatives from the central committees of non-CPC parties and the All-China Federation of Industry and Commerce.