Henan urges SOEs, developers to buy second-hand homes

TREE NEWS update: Henan province’s housing authority and eight other departments issued measures to stabilize the property market, including encouraging state-owned enterprises and real estate firms to purchase individual second-hand homes to facilitate ‘trade-in’ deals. The plan also promotes ‘selling old to buy new’ through tripartite agreements and urges financial institutions to provide long-term low-interest loans for such acquisitions.