Following the meeting of the Political Bureau of Central Committee of the Chinese Communist Party setting the tone for timely adjustment and optimization of real estate policies, some megacities in China, including Beijing, Shenzhen and Guangzhou, have stated that they will follow the instructions in implementing adjustment and optimization policies in the real estate industry, aiming to better meet citizens’ increased demand for purchasing residential properties. The developments in question may lead to the lifting of restriction policies on purchasing activities.
Previously, megacities in China issued restriction policies on purchases of houses, aiming to curb the overheating of the real estate industry. However, the real estate industry has seen slow development since 2022, which has exerted a negative impact on China’s economic development.
The real estate industry has traditionally played a key role in boosting domestic demand. Recently, Chinese policymakers formulated a series of policies to stimulate the development of the real estate industry, which will also boost the demand for steel in the future.