Chinese real estate market to develop with strong growth potential: official

The real estate market is still undergoing adjustments and there is significant room for growth in the sector, particularly for high-quality housing, an official from the National Bureau of Statistics (NBS) said on Wednesday.

Commercial home prices in March rose in more Chinese cities from a month ago as transactions became more vibrant in the real estate market, data from the NBS showed on Wednesday.

An NBS survey covering 70 major cities said the prices of new houses were higher in 24 cities last month, up from 18 in February, while resold homes in 10 cities logged price increases, up by seven.

"Whether in first-tier cities or second- and third-tier cities, and regardless of new or second-hand homes, housing prices are showing signs of improvement. In first-tier cities, prices have increased month-on-month, while in second-tier cities, they have remained stable. In third-tier cities, the decline in prices has lessened. This suggests that some of the real estate regulation policies are starting to show effects," said Sheng Laiyun, deputy director of the NBS.

"Overall, the real estate market is still undergoing adjustments, and there is a need to further release housing demand. In terms of growth potential, China's consumption structure is still upgrading, and urbanization is not yet complete. This means there is significant room for growth in the real estate market, particularly for high-quality housing, which continues to see strong demand," said Sheng.

Last month, Minister of Housing and Urban-Rural Development Ni Hong said that China will resolutely restore stability in the real estate market, with efforts to provide strong financing support for eligible housing projects and ensure timely delivery of homes to buyers.

While the government has rolled out a mix of policies to prop up the sector, more work will be done this year to consolidate the effects of related measures, including interest rate cuts, lending support and tax reductions, said the minister.

The ministry will expand a "white list" mechanism to ensure loans for property projects, and accelerate the renovation of urban villages and dilapidated housing. Reforms of fundamental mechanisms in real estate development, financing and sales will also be pushed forward to build a new development model for the sector.

Sheng said that more efforts will be made to ensure the sustained and healthy development of real estate market.

"Going forward, we need to effectively implement the central government's policies aimed at stabilizing and promoting the recovery of the real estate market. We will continue to boost the construction of high-quality housing, actively explore new models for real estate development, and ensure the sector's sustained and healthy growth," said Sheng.

Chinese real estate market to develop with strong growth potential: official

Commemorations honoring Chinese People's Volunteers (CPV) martyrs were held on the banks of the Yalu River in Dandong, Liaoning Province on Tuesday as part of ongoing tributes to those who fought in the War to Resist U.S. Aggression and Aid Korea (1950-1953).

The event was held to mark the return of the remains of 12 CPV martyrs, who were killed in the war, from the Republic of Korea (ROK) on Wednesday.

This will be the 13th such repatriation of CPV remains following the handover agreement between the two countries. Since 2014, the remains of 1,011 soldiers have been returned to China from the ROK, according to China's Ministry of Veterans Affairs.

More than 170 representatives, including veteran CPV soldiers, relatives of the martyrs, active-duty personnel, students, and other from various sectors of society, attended the event.

People boarded a ferry which slowly sailed down the Yalu River. Inside the cabin, all present stood in solemn silence as the national anthem of the People's Republic of China was played, and observed a moment of silence in honor of the CPV martyrs.

Then, they walked to the ship's railings one by one and scattered flower petals into the river to pay tribute to the martyrs.

"We, the CPV, went abroad to fight to defend our motherland, the people, and our good life and to resist U.S. imperialist aggression against the Democratic People's Republic of Korea (DPRK). I hope that our young comrades and students today will study hard and make contributions to our motherland," said Hu Changzhe, a CPV veteran.

"I feel deeply moved as these veteran soldiers are heroes who once fought for our country. Now, standing by the Yalu River, looking back on their past and remembering their comrades, they must be deeply touched," said Hong Jialu, a student at a branch of Liaoning Province Shiyan High School.

At the event, 10 student representatives from primary and middle schools read aloud a letter to express their reverence and remembrance for the heroic martyrs through their sincere words and heartfelt recitation.

The Korean War broke out in June 1950, eight months after the People's Republic of China was founded. At the request of the Democratic People's Republic of Korea (DPRK), China sent 2.9 million CPV soldiers to assist the DPRK during the war, of whom more than 360,000 were killed or injured.

Commemorations held to pay tribute to CPV heroes in northeast China