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1st Ld: China expects steady, sound growth of real estate

Xinhua, March 15, 2015 Adjust font size:

Chinese Premier Li Keqiang said on Sunday that he hopes to see "steady and sound growth of China's real estate market in the long run."

He said the government encourages people to buy homes for their personal use or buy second homes.

China is still a large developing country. Housing is not just an economic issue, but also one that concerns people's livelihood, he said.

The Chinese government needs to meet the basic housing needs of low-income people in China, Li said.

The government will take more steps this year to rebuild urban rundown areas homes and rural dilapidated homes, with one million units each.

Li stressed that the Chinese government has the responsibility to provide housing for the people in need.

Li made the remarks at a press conference after the conclusion of the annual legislative session. Endi