Shou Xiaoli:

One last question, please.

The Paper.cn:

All aspects of society are very concerned about the battle to ensure the delivery of housing. What measures has the Ministry of Housing and Urban-Rural Development taken to ensure the quality and handover of sold commercial housing that is under construction? What are the next specific measures? Thank you.

Ni Hong:

Thank you for your questions. On May 17 of this year, the State Council made arrangements for ensuring the delivery of housing. It has been exactly five months to this day. Currently, delivery of housing has been vigorously advanced in various places, with 2.46 million units of housing having been handed over, making significant progress. The efforts to ensure the delivery of housing have reassured homebuyers and notably improved market expectations. We have worked with relevant departments to conscientiously implement the decisions and arrangements of the CPC Central Committee and the State Council, adopted multiple measures to form synergy, set up a special work group and have focused on work in two aspects with other departments and units, such as financial regulatory departments, development and reform commissions, the department of finance, the department of natural resources, audit offices, public security organs, courts and banks. First, we have focused on the "white list" mechanism to address funding shortages for project construction. Second, we have focused on progress with construction and delivery. We have seen that local governments, property developers and financial institutions assume their full responsibilities, act on market-oriented and law-based principles, adopt targeted policies for each project in accordance with their specific conditions, and take a category-based approach to advance construction, so as to ensure the handover of the housing at an early date. 

For projects in normal operation, we have advanced their construction in accordance with the market-oriented and law-based principles. For insolvent projects, we have acted on the market-oriented and law-based principles to accelerate bankruptcy reorganization or liquidation, effectively safeguarding the legitimate rights and interests of homebuyers. It should be noted here that we have resolutely investigated and prosecuted those violating laws and regulations as well as harming the interests of the people. We must never let them get away without being punished.

How to advance the implementation of this work? Together with relevant departments and units, we and the National Financial Regulatory Administration have strengthened the link age of credit, land, judicial and other measures and have continued to advance the implementation of various tasks, focusing on the target of delivery. First, we have focused on progress. Through the national pre-sold homes information system, each set of pre-sold homes is registered and filed, and will be removed from the system once it is handed over to homebuyers. Second, we have focused on quality. We have taken the projects of pre-sold homes as a priority for strengthening regulation of housing quality. Houses should not only be built, but also have good quality. Houses handed over to homebuyers should have been evaluated and accepted. Third, we have focused on coordination. We have made good use of joint mechanisms consisting of special work groups at the national, provincial and municipal levels and have taken coordinated steps to solve difficulties and problems that are related to cross-regional fund withdrawal, legal and litigation issues and asset disposal of projects.

We believe that with the support of credit funds from the "white list" mechanism, as well as with full cooperation from various departments, resolute actions of local governments and active efforts of property developers, we can surely win the battle to ensure the delivery of housing and complete the task that was assigned to us by the CPC Central Committee and the State Council, so that the homebuyers can get their houses as soon as possible. Thank you.

Shou Xiaoli:

Thanks to Mr. Ni and to all the other speakers. Thanks to our friends from the media for participating. Today's briefing is hereby concluded. See you!

Ni Hong:

Thank you.

Translated and edited by Liu Sitong, Huang Shan, Yang Chuanli, Wang Qian, Chen Xinyan, Li Huiru, Wang Xingguang, Fan Junmei, Gong Yingchun, Zhu Bochen, Xu Kailin, David Ball, Rochelle Beiersdorfer, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.