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Hoardings of sprawling housing estates nestled amidst greenery or beside bubbling streams greet pedestrians in every Indian city. After a cursory glance, those without deep pockets move on with their business.

The slogan “Roti, Kapda aur Makan” (Food, Clothing, and Shelter) resurfaces during elections. Though some steps have been taken to provide homes, corruption and bureaucratic sloth often hinder these efforts.

China, known for its Great Wall, bamboo curtain, delicious cuisine, and booming economy, has an edge in the housing sector. It has effectively tackled market forces with its innovative policies.

China has rolled out an affordable housing policy, converting unsold flats into homes. This strategy addresses both the housing crisis and broader economic challenges. The government has set income thresholds and provided substantial subsidies to ensure housing remains accessible to those who need it most.

This policy could stabilize property prices and restore confidence among investors and consumers. It aligns with broader urban renewal and infrastructure projects, rejuvenating urban areas and stimulating economic growth. Additionally, it reduces the financial burden on households, allowing families and individuals to spend less on mortgages or rent. This, in turn, increases disposable income, fostering economic resilience. Effective implementation and oversight are crucial. The process of constructing these homes must be free of sloth and corruption, common accusations against local governments.

China’s approach tackles property market oversupply by providing housing to various demographics, stimulating domestic consumption and boosting the economy. The housing options include public rental housing, government-subsidized rental housing, and shared ownership homes, recognizing the diverse needs of the population, from low-wage workers to young professionals and skilled workers.

Local governments lead the charge, with central authorities providing critical support. The policy’s twin pivots are the finance ministry’s frontloading of subsidies and the central bank’s increase in pledged supplementary lending funds. These measures ensure sufficient resources to meet ambitious housing targets, aligning with the regime’s ideology and policies.

A 300 billion yuan relending facility scheme for affordable housing highlights the strategic use of financial instruments to address social needs. This comprehensive approach showcases the government’s commitment to resolving housing issues while stimulating economic growth.