CCTV9英语新闻：Cutting overcapacity & destocking housing inventory

China's land regulators have released guidelines on managing the nation's land resources during the 13th Five Year Plan. The guidelines have clarified the principals in using land for property development, and addressing the agenda of destocking housing inventories. 

 

It's estimated that China's third and fourth tier cities will need over 30 months to sell their stocks. The guidelines say more land should be supplied where there's tension between supply and demand, and that land supply should be reduced to zero in cities having high housing inventory. 

 

It says that land on which development has yet to be started shall be allowed to change to other uses, including public housing. The document also references the country's agenda to cut overcapacity in steel and coal, saying these sectors will be strictly controlled in terms of land supply.