Shenzhen's reputation as a dirty factory town is a thing of the past. Photo: Getty

Shenzhen issued new housing regulation drafts in order to support standardized development of its leasing market, the 21st Century Business Herald reported. The drafts are now seeking further advice from the public, groups and various departments.

As a first-tier city with constant shortages of land resources and the largest leasing market size throughout China, Shenzhen has shown “great determination in increasing its rental housing supplies,” the report said.  

Draft regulations include turning vacant commercial spaces into rental housing, increasing various types of parking supported housing, limiting commercial housing for rent but not for sale, and so on.

Senior researcher Li Yujia at the Shenzhen Real Estate Research Center said that in future, the supply of new rental housing in Shenzhen could be the largest in the country.