Apartment buildings in Shenzhen, China. Photo: iStock

The Shenzhen Construction Bureau has issued a draft plan for housing market reform, aiming to build a differentiated and fully covered housing supply system, The Paper reported.

According to the draft plan, there will be three categories of housing, including commercial housing based on market price, a policy-supported housing which hopes to attract talent, as well as public rental housing which can secure low- and middle-income residents.

For talent equipped with professional technology and high skills, or engaged in business management, social work and government services, the rental or selling price of the policy-supported housing will be about 60% of that of commercial housings in the same areas.

By 2035, Shenzhen’s newly built housing will reach 1.7 million units, which includes no less than one million in policy-supported, public rental housing.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.