China's Nanjing City fully lifts restrictions on commodity housing sales

Nanjing, capital of east China's Jiangsu Province, on Monday announced the cancellation of sales restrictions on commodity housing, effective as of the same date, as part of the city's efforts to revitalize its property market.

Under the adjusted rule, commodity housing units can be listed for trading immediately after the owner obtains a real estate registration certificate.

In response to a red-hot housing market, Nanjing in 2017 rolled out home sales restrictions, stipulating that newly purchased homes, whether first-hand or pre-owned, would only become eligible for trading three years after the owner had obtained the real estate registration certificate.

Also on Monday, Nanjing announced the usage scope expansion of housing provident funds, allowing a homebuyer's parents and children, who meet certain conditions, to apply to use their housing provident funds accounts to finance the purchase of the house.

China's Nanjing City fully lifts restrictions on commodity housing sales

Li Hongzhong, vice chairman of the National People's Congress Standing Committee, met with the European Parliament's delegation for relations with China led by chair Engin Eroglu in Beijing on Wednesday.

Li, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China is willing to work with the European Union (EU) to strengthen communication, enhance mutual trust, deepen cooperation, and pursue mutual benefit and win-win outcomes.

He said China stands ready to join hands with the EU to address global challenges, promote exchanges and cooperation among legislative bodies, effectively utilize communication mechanisms, and advance the sound and stable development of China-EU relations.

Eroglu said the EU stands ready to work with China to contribute to the development of EU-China relations.

Senior Chinese legislator meets European Parliament delegation