China highlights housing system encouraging both purchase, renting

BEIJING, Dec. 20 (Xinhua) -- China will move faster to put in place a housing system that ensures supply through multiple sources, provides support through multiple channels, and encourages both housing purchase and renting in 2018, said a statement issued Wednesday after the annual Central Economic Work Conference.

The country will develop its housing rental market, especially long-term leases, protect the legal rights of concerned parties, support the development of professional and institutional house rental enterprises, according to the statement.