Cities across China have been incentivizing home buyers to purchase low-energy housing as part of sweeping efforts to stabilize the country's real estate market and reduce emissions.
Over 70 cities in the country have introduced optimizations to policies related to the housing provident fund (HPF), a pension that workers pay into and can later withdraw from for housing costs. Many announced they would increase limits on loans from the local HPF management center, with loans for green housing emerging as a key focus.
On April 1, Ordos City in North China's Inner Mongolia Autonomous Region raised its loan limit for green housing by 10 percent. Shortly after, the Beijing Housing Fund Management Center sought public feedback on a proposal for purchasing green buildings. This proposal would increase the loan limit by 400,000 yuan (about 56,300 dollars), allowing loans up to 1.6 million yuan (about 225,100 dollars) for buyers of low-energy homes.
Guangzhou City in south China introduced a similar policy on the same day, rolling out a tier system for loans based on the country's certification system for green buildings, which uses a four-tier system in which green structures are categorized as either basic grade, 1-star grade, 2-star grade and 3-star grade.
"Buyers of green or prefabricated housing with a one-star level can enjoy a 10-percent increased loan limit, while those with two stars can benefit from up to a 20-percent increase. Additionally, families with two or more children can enjoy a 30-percent increased borrowing limit," said Feng Wei, director of Guangzhou Housing Fund Management Center.
Recent data indicates that green buildings constitute 90 percent of new construction in China. By 2025, all new buildings in urban and rural areas are expected to meet green building standards.
"The building industry is one of the largest emitters. Integrating financial policies with the goals of carbon peaking and carbon neutrality by combining housing and green finance is an innovative measure to mobilize the housing provident fund," said Cai Zhen, a researcher at the Institute of Finance and Banking of the Chinese Academy of Social Sciences.
Housing meets green finance as Chinese cities revise lending rules
As China and France toast their 60-year milestone, the sister cities of Huzhou in east China's Zhejiang Province and French city of Montargis are leading the charge to fortify relations like never before, from enriching cultural exchanges to pioneering eco-friendly initiatives.
In separate interviews with China Global Television Network in late April, mayors of the two cities that blazed a trail of collaboration for 20 years shared that they have been keen to stay true to the China-France cooperation spirit and plans to foster greater interaction in the cultural sphere.
"For example, this October, we're planning to collaborate with the Ministry of Education's China National Committee for International Language Exchange, which runs a program called 'Chinese Bridge.' We'll be inviting 30 students from Lycee en Foret, Montargis, to join the 'Chinese Bridge' Autumn Camp in our city. This camp serves as a youth exchange program between sister cities of China and France," said Hong Hupeng, Mayor of Huzhou, the birthplace of the guiding concept of "Lucid waters and lush mountains are invaluable assets".
On his side, Mayor Benoit Digeon takes pride in highlighting that 180 pupils are learning Chinese in local schools, with a special focus on nurturing next generation's cross-cultural understanding.
"We will focus everything on youth, young people who will come to attend classes in a college or high school. We have 180 young people in Montargis learning Chinese. So, these young people can blend into a group that will go to school with them. And then there are also artists and athletes. We want to bring a team of young basketball players from Montargis to compete with young Chinese basketball players. For those who went to China the previous year, we will invite their Chinese counterparts to come and vice versa with their families. And all this will create bonds, bonds of friendship. We start with the young and when they are 20, or 25 years old, they will be able to do that by themselves and have exchange visits with Huzhou," added Digeon.
Montargis is called "Little Venice" due to its charming watery cityscape. Located about 100 kilometers south of Paris, the town is not only a key tourist destination in France, but also boasts much historical significance.
Montargis is one of the top priorities for many Chinese tourists who wish to venerate early Chinese revolutionaries as it is the birthplace of the famous Work-Study Movement.
Between 1919 and 1921, many ambitious young Chinese went to France, where they worked in factories in Montargis and other French cities to pay for their studies. Many youngsters became interested in Marxism and established one of the earliest Chinese Communist groups in the European country. Deng Xiaoping, the late Chinese leader and the chief architect of China's reform and opening-up, was among these students.
Nowadays, with Montargis and Huzhou standing as shining examples of sister cities from both sides, the mayor of Huzhou emphasized the unique and profound connection between the two cities while the mayor of Montargis praised the rapid development of the Chinese city.
"I believe that Montargis has a unique and deep connection with China. Since the inception of our partnership, visits between our two cities have grown more frequent. Last May, I had the chance to visit Montargis for the first time, and the experience truly resonated with me. Throughout history, Chinese and French youths have played pivotal roles in nurturing the friendship between our two nations. During the 1920s, young Chinese intellectuals such as Deng Xiaoping and Chen Yi worked and studied in Montargis, laying the foundation for a profound and enduring connection between Montargis and China," said Hong.
"The meeting of Huzhou and Montargis, was a somewhat improbable encounter for a small town at that time. Huzhou was not the big city it has become, since at that time, President Xi Jinping had not yet proposed the concept of 'Lucid waters and lush mountains are invaluable assets' in Huzhou. But, it happened very quickly. We visited the city again a few days ago and it was amazing. All that has been done, we were really amazed," added Digeon.
Cities of China, France ready to strengthen cultural connections: mayors
