China delivers 3.24 mln housing units to buyers by Nov: vice minister

A total of 3.24 million housing units had been successfully delivered across China by the end of November, further boosting homebuyers' confidence and improving market expectations, Vice Minister of Housing and Urban-Rural Development Dong Jianguo said on Saturday.

This year, the Ministry of Housing and Urban-Rural Development, together with the National Financial Regulatory Administration, established a coordination mechanism for real estate financing.

This initiative aimed to ensure that compliant real estate projects receive necessary funding, with approved loans disbursed promptly.

As of the end of November, the amount of loans approved for projects on the "white list" had reached 3.6 trillion yuan (about 494.64 billion U.S. dollars).

Speaking at the Annual Conference on China's Economy hosted by the China Center for International Economic Exchanges (CCIEE), a public policy think tank based in Beijing, Dong said these measures have reversed the downward trend of the real estate sector.

"A series of policies and measures have effectively boosted confidence in the property market, leading to a positive momentum with signs of stabilization. According to the Ministry of Housing and Urban-Rural Development's real estate market monitoring system, in October and November, the nationwide transaction area of newly built commercial housing achieved consecutive month-on-month and year-on-year growth, with first-tier cities driving sales growth in second- and third-tier cities," said Dong.

Dong emphasized that the positive changes in the housing market since the beginning of the fourth quarter demonstrate the effectiveness of the host of incremental policies that have been taken.

Looking ahead, Dong said the ministry will align its efforts with the directives of the recently concluded annual Central Economic Work Conference to further stabilize and improve the real estate market.

"On the one hand, we will prioritize stimulating demand by implementing city-specific policies, advancing the renovation of urban villages and deteriorating urban housing, and fully tapping into the potential of both rigid and improved housing needs. On the other hand, we will focus on controlling new developments, optimizing existing housing stock, and enhancing quality. Additional efforts will include responsibly managing new land supply, promoting urban renewal, and supporting real estate enterprises in revitalizing existing land and property assets to accelerate their transformation to sustainable development," said Dong.

The annual Central Economic Work Conference was held in Beijing from Wednesday to Thursday, with Chinese leaders deciding priorities for economic work in 2025.

China delivers 3.24 mln housing units to buyers by Nov: vice minister

China is willing to strengthen communication, enhance trust, eliminate interference, and deepen cooperation with Canada to bring bilateral relations forward on a steady and sound track in solid strides under the new circumstances, said Chinese Foreign Minister Wang Yi on Thursday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Canadian Foreign Minister Anita Anand in Beijing on the day.

Referring to Canadian Prime Minister Mark Carney's visit to China, the first by a Canadian prime minister in eight years, Wang said the trip marks a milestone in bilateral ties and signals a turning point in the relationship.

The leaders of the two countries will hold meetings and talks, which are expected to open up new prospects for bilateral relations, said Wang.

The world today is undergoing profound and complex changes, and the impact of China-Canada relations transcends the bilateral scope, Wang noted.

Wang said that China and Canada have different social systems, stemming from different historical and cultural heritage, and based on the choices of their respective people.

He urged both sides to view each other in a rational and amicable manner with an inclusive mindset, handle issues on the basis of mutual respect, focus on the agenda of cooperation, and send positive messages so as to foster optimism, inject greater confidence into the development of bilateral relations, and jointly build a new type of strategic partnership between China and Canada.

Anand said the new Canadian government attaches great importance to relations with China. She also added that Prime Minister Carney looks forward to engaging in in-depth exchanges with Chinese leaders during the visit to set the course for the development of bilateral relations, resume dialogue in various fields, pursue more mutually beneficial outcomes, enhance coordination and cooperation in multilateral affairs, and further advance the strategic partnership between the two countries.

China ready to work for steady, sound ties with Canada: FM