China's real estate market has seen an upswing this month as homebuyer confidence recovers following a series of stimulus measures announced by central government departments and many local governments to boost the healthy development of the country's pillar industry.
Many cities announced that they would further optimize their local property policies, taking measures such as reducing down payment rates for both first-home and second-home purchases, lowering the purchase threshold for nonlocal buyers and adjusting existing home mortgage rates.
In east China, the coastal city of Weihai, Shandong Province and Hangzhou, Zhejiang Province both set a consistent minimum down payment ratio for loans on both first and second homes, slashing the minimum down payment for second-home loans from the previous 25 percent to 15 percent.
Tianjin Municipality's Binhai High-tech Industrial Development Area recently announced that eligible employees working in Beijing no longer need to meet pre-existing conditions to purchase a home and gain residence permits.
These measures are expected to drive China's consumer spending and bolster economic growth this year, said Yu Xiaofen, dean of the China Academy of Housing and Real Estate at Zhejiang University of Technology.
"Overall, market participants are shifting towards a more positive outlook and the effects of these policies can be expected. During this year's National Day holiday, over 100 cities, including Wuhan, Changsha, and Nanjing, organized various promotional activities such as an autumn seasonal promotion, housing expos and shows. We believe that these activities play a very positive role in boosting the interest of homebuyers, increasing willingness to purchase, cutting home buying costs, and restoring confidence in the market," said the scholar.
Thanks to these favorable policies, China's residential real estate market witnessed buoyant sentiment across major cities.
In Shenzhen, the populous tech hub of south China's Guangdong Province, a three-day real estate fair kicked off on Friday and attracted crowds of local residents and even homebuyers from surrounding cities. The fair followed the city's lifting of key restrictions on home purchases and lowering of the minimum down payment for first homes to 15 percent of the purchase price, and to 20 percent for second homes.
"Due to good policies and promotional activities, I made a special trip here," said a homebuyer from Zhuhai, a city just south of Guangzhou.
From October 1 to 7, a total of 1,841 new commercial houses were sold in the city, skyrocketing more than 660 percent from a year ago, according to statistics from the Housing and Construction Bureau of Shenzhen.
Guangzhou, capital city of Guangdong Province, scrapped all home-buying restrictions on September 30, making it the first time a city its size has lifted home purchasing requirements. Guangzhou has witnessed a substantial rise in the transaction volume for both new and pre-owned homes over the past weeks.
Wang Huan, director of a new housing project in the city, reported that their sales volume since the last day of September has exceeded 120 units, or three times the original sales target.
"After the purchase restrictions were fully lifted, the location of our project changed from a restricted purchase area to a non-restricted purchase area. So, our sales have shown significant growth since the first day of the policy implementation," he said.
Data showed that from October 1 to 7, new home sales in Guangzhou stood at 5,855 units, higher than the total sales volume of the entire August and September this year.
Meanwhile, the enthusiasm in the city's pre-owned housing market is also on the rise. Huang Anfu, the store manager of a real estate agency, reported that the number of property viewings and inquiries at his store has doubled compared to normal since the lifting of purchase restrictions.
China's housing market picks up amid bundle of stimulus measures
Li Yuhua, a farmer-turned forest ranger from a mountainous village in Dulongjiang Town, southwest China's Yunnan Province, has spent nine years protecting the forests in her hometown while helping local people increasing their incomes.
Li's family was once a registered impoverished household, relying mainly on corn farming for living. Things began to change for her family in 2016 when China launched a policy allowing registered impoverished population to work as ecological forest rangers, and Li became one of the first ecological forest rangers in the town.
"When I first began to work as a forest ranger, it was hard for me even to climb mountains, let alone climb rocks and cross rivers. But I told myself that since the country gave me this opportunity, I must do it well. I worked hard to improve my physical fitness and learn new skills, always actively taking the missions of patrolling mountains," said Li.
As Li often wears a colorful, vibrantly striped "Dulong blanket," a traditional clothing of the Dulong ethnic group, the villagers call her the "rainbow ranger."
"I think the name 'Rainbow Ranger' is beautiful. It makes me feel like a rainbow for us women of Dulong ethnic group guarding our homeland," Li said.
Dulong is a mountain-dwelling ethnic group in southwest China. It is one of the least populous of China's 56 ethnic groups, and the people were known for "direct transition" from primitive life to the modern socialist society at the founding of the People's Republic of China in 1949.
Most Dulong people live in Dulongjiang Town, where an inhospitable mountainous terrain used to thwart the place's development for decades. The town remained to be one of the poorest areas in Yunnan Province and even in the entire country. Thanks to government inputs and the development of industries with local features, the Dulong people have been experiencing remarkable life changes. In 2018, the Dulong ethnic group shook off poverty as a whole.
Beyond safeguarding forests, Li took the lead in developing non-timber forest-based economy in the town, guiding local residents to grow plants like Chinese black cardamom and wild-simulated lingzhi mushrooms as well as raising cattle and bees.
In 2025, the total output value of the town's non-timber forest-based economy reached nearly 30 million yuan (around 4.3 million U.S. dollars), with the annual average income of 43 households increasing by more than 20,000 yuan (around 2,900 U.S. dollars) each.
Li also established a cooperative for Dulong blanket making, attracting more than 170 women to learn traditional weaving techniques. They have developed 12 types of cultural and creative products, including shawls and scarves, and sold them worldwide through livestreaming, generating wealth for themselves.
"In the past, we only wove blankets for our own use. Now she teaches us to make the cultural and creative products and sell them. Last year, I earned more than 4,000 yuan (around 580 U.S. dollars) from weaving. I spent the money on my children's school fees and new appliances for my house," said Mu Jianying, member of the cooperative.
Li's dedication to both forestry and rural revitalization has earned her widespread recognition. In 2024, she was honored as model of ethnic solidarity and progress and received the title certificate from President Xi Jinping. She was also awarded the title of National March 8 Red-Banner Pacesetter, the highest honor presented by the All-China Women's Federation to the country's outstanding women, ahead of the International Women's Day observed on March 8.
Li said her achievements are the result of collective efforts.
"I often think that one person's strength is very limited, but the strength of a group is great. There are 195 ecological forest rangers like me protecting this land in the Dulongjiang Grand Canyon," she said.
As a female forest ranger, Li shared a message for women ahead of the International Women's Day.
"To mark the International Women's Day, I want to say to all my sisters: No matter what position we are in, as long as we are willing to endure hardship and work hard, we will surely weave our own rainbow," she said.
Forest ranger dedicated to guarding green mountains in Yunnan
Forest ranger dedicated to guarding green mountains in Yunnan
