The 2025 Lujiazui Forum officially opened in Shanghai on Wednesday morning, expecting multiple major financial policies to be announced for deeper financial reform, openness, and international cooperation.
The two-day forum has gathered policymakers, regulators, and financial leaders from over ten countries and regions. This year's theme, "Financial opening up and cooperation for high-quality development in a changing global economy," highlights China's commitment to further integrating into the global financial system.
Senior leaders from the People's Bank of China, the National Administration of Financial Regulation, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and the Shanghai Municipal Government will deliver keynote speeches.
More than 70 distinguished speakers are attending the forum, including heads of foreign financial institutions and global regulatory agencies.
After the opening ceremony, there will be eight plenary sessions and forums with a strong emphasis on cutting-edge topics, such as how artificial intelligence can empower financial reform and innovation, how finance can support the development of new quality productive forces, and how to improve the multi-tiered capital market system to cultivate patient capital.
Three special sessions will also be held, focusing on reinsurance market development, science and technology finance, and the rule of law in finance.
Lujiazui Forum opens in Shanghai, spotlighting financial openness, AI-driven reform, and global cooperation
Lujiazui Forum opens in Shanghai, spotlighting financial openness, AI-driven reform, and global cooperation
China's top housing authority has pledged to stabilize the real-estate market, rolling out a package of measures centered on city-specific policies to reduce inventories and optimize housing supply.
At a national conference held in Beijing on Tuesday, the Ministry of Housing and Urban-Rural Development announced that stabilizing the real estate market will be a central priority next year.
In 2026, local governments across China are expected to focus on city-specific policies aimed at controlling new housing supply, reducing existing inventory, and optimizing housing availability. Efforts will be integrated with urban renewal projects and the redevelopment of urban villages to revitalize and better utilize existing land resources. Authorities will also promote the acquisition of unsold commercial housing stock for conversion into affordable housing, resettlement units, dormitories, and apartments for skilled professionals.
The supply of government-subsidized housing will be optimized and implemented with greater precision, while a national housing quality improvement initiative will advance the orderly construction of "good homes." The role of the real estate project "whitelist" system will be further expanded to support the reasonable financing needs of property developers.
Municipal governments are encouraged to make full use of their autonomy in real estate regulation, adjusting and refining housing policies as appropriate to support both rigid and improvement-oriented housing needs, thereby fostering stable operation across local property markets.
China will also accelerate the formation of a new development model for the real estate sector. This includes building a foundational institutional framework, solidifying the corporate-based project development model, implementing a lead bank system for real estate financing, and promoting the sale of completed homes, effectively reducing the risk of delivery failures. For areas that continue with pre-sale practices, stricter oversight will be applied to the management of pre-sale funds to protect buyers' legal rights.
At the same time, reforms to the housing provident fund system will be deepened. The government will launch a campaign to improve the quality of property services and explore a new model of community governance led by grassroots Party organizations in collaboration with neighborhood committees, homeowners' associations, and property management companies. Moreover, the "property services plus lifestyle services" model will be explored, expanding property-related services into households.
China pledges to stabilize property market
