{"id":608559,"date":"2021-08-02T12:36:34","date_gmt":"2021-08-02T16:36:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=608559"},"modified":"2021-08-02T12:36:35","modified_gmt":"2021-08-02T16:36:35","slug":"china-cracks-down-on-real-estate-industry-so-that-families-can-afford-housing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-cracks-down-on-real-estate-industry-so-that-families-can-afford-housing\/","title":{"rendered":"China Cracks Down On Real Estate Industry So That Families Can Afford Housing"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-cracks-down-on-real-estate-industry-so-that-families-can-afford-housing%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=608559&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1167388958-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>The Chinese Communist Party is regulating the nation\u2019s real estate sector to ensure that families can afford housing.<\/span><\/p>\n<p><span>The move comes days after the Chinese government <\/span><a href=\"https:\/\/www.dailywire.com\/news\/china-cracks-down-on-120-billion-private-tutoring-industry\"><span>unveiled<\/span><\/a><span> new regulations for the nation\u2019s $120 billion private tutoring industry, which authorities believe will decrease costs for families. Chinese parents routinely seek tutoring services throughout children\u2019s primary and secondary education \u2014 by some estimates, between $17,400 and $43,500 per year \u2014 to prepare them for the National College Entrance Examination, which determines eligibility for undergraduate education.<\/span><\/p>\n<p><span>As with the crackdown on tutoring, the real estate sanctions are an attempt to cut costs for families, who are now <\/span><a href=\"https:\/\/www.dailywire.com\/news\/china-now-says-it-will-allow-families-to-have-three-children-amid-fears-of-population-crash\"><span>permitted<\/span><\/a><span> to have up to three children \u2014 an increase from the previous two-child policy, which formerly ended the decades-long one-child policy.<\/span><\/p>\n<p><a href=\"https:\/\/www.aljazeera.com\/amp\/economy\/2021\/7\/28\/in-its-latest-crackdown-china-intensifies-focus-on-real-estate\"><span>Al Jazeera<\/span><\/a><span> reports:<\/span><\/p>\n<blockquote readability=\"24\">\n<p><i><span>In recent days, China jacked up mortgage rates in a major city, vowed to accelerate the development of government subsidized rental housing, and moved to increase scrutiny on everything from financing of developers and newly-listed home prices to title transfers. Echoing Xi Jinping\u2019s famous words that \u201chousing is for living in and not for speculation,\u201d Vice Premier Han Zheng added that the sector shouldn\u2019t be used as a short-term tool to stimulate the economy.<\/span><\/i><\/p>\n<p><i><span>While China has spent years trying to cool property prices, analysts say this round of crackdowns will be different. One clear signal came in Vice Premier Han\u2019s comments on steering away from using real estate to provide short-term boosts for the economy.<\/span><\/i><\/p>\n<p><i><span>Another signal came from the unusually large number of government entities that vowed recently to strengthen measures on everything from project development and home sales, to rental and property management services. Eight policy bodies said in a joint statement that they would step up penalties for misconduct. In the line of fire will be developers that default on debt repayments, delay deliveries on pre-sold homes or elicit negative news or market concerns.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>\u201cChina\u2019s property sector has been one of the biggest sources of discontent and the government is hell-bent on controlling prices so it doesn\u2019t lead to social unrest,\u201d Liao Ming of Prospect Avenue Capital told Al Jazeera. \u201cThe measures echo the policy curbs in education in that they are aimed at easing public angst against inequity.\u201d<\/span><\/p>\n<p><span>The housing regulations caused stock indices for the sector to <\/span><a href=\"https:\/\/www.reuters.com\/business\/china-shares-fall-education-property-firms-tumble-regulatory-clampdown-2021-07-26\/\"><span>plummet<\/span><\/a><span>. The CSI 300 Real Estate Index dropped by over 6% on Monday \u2014 its lowest level since 2015. The Hang Seng Property Index also fell by more than 3%.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chinese Communist Party is regulating the nation\u2019s real estate sector to ensure that families can afford housing.The move comes days after the Chinese government unveiled new regulations for the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-608559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/608559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=608559"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/608559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=608559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=608559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=608559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}