Shanghai Communist Party secretary Chen Jining has stated that urban regeneration is an important measure to carve out a new development mode for the city, as reported by local media.
Accordingly, Shanghai will focus on the sporadic old housing rehabilitation, using small beams and thin plates for this, and on renovation of villages within the city, which will stabilize economic development and enhance local demand.
Moreover, Shanghai has adjusted its provident fund personal housing loan policy, which will lower downpayment ratios in certain suburban districts of Shanghai, including Lingang, Jiading, Qingpu, Songjiang, Fengxian, Baoshan and Jinshan.
All the above measures will bolster the real estate sector in Shanghai.