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China to encourage property developers to lower prices

Updated: Dec 21,2015 7:26 PM     Xinhua

BEIJING — China will encourage property developers reduce home prices as part of efforts to destock inventory, said a statement issued on Dec 21 after a key economic policy meeting.

The Central Economic Work Conference said the country will promote the consolidation of property developers and encourage them to change their marketing strategies. Obsolete restrictions on home ownership shall be revoked.