China set to unveil new measures to boost property sector

15 Oct 2024 CW Team

China has pledged new measures to support its property sector and suggested that the government may increase borrowing to stabilize the economy, as authorities work to mitigate the country's economic slowdown.

At a briefing on Saturday, Finance Minister Lan Fo'an and his deputies announced that local governments would be allowed to use special bonds to purchase unsold homes, though they did not specify the amount. Lan hinted at the possibility of issuing more sovereign bonds and committed to easing the debt burden of local governments. This raised the prospect of a potential revision to the national budget in the coming weeks.

Lan indicated that the central government has significant capacity to borrow and expand the deficit but did not provide a specific timeline for these actions.

Although Lan refrained from detailing the cost of additional stimulus—potentially disappointing some investors—the measures were in line with economists' expectations, focusing on resolving the property sector crisis and addressing local government debt issues. Officials also revealed that China plans to issue special sovereign bonds to bolster the capital of its largest state-owned banks, a move expected to increase lending and support economic growth.

During a visit to several cities in northwestern China, Vice Premier He Lifeng described the property market as a key indicator of the country's economic health, according to the official Xinhua News Agency. He urged officials to recognize the political importance of ensuring the delivery of housing projects and stabilizing the market.

Bruce Pang, chief economist for Greater China at Jones Lang LaSalle Inc., noted that the fiscal measures to address local debt risks, recapitalize state banks, and support the property sector were exactly what the market and investors had been anticipating.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..