Beijing will continue to strengthen and improve its real estate market regulations, according to a government white paper, as the Beijing municipal government aims to keep housing prices stable this year.
The 2017 white paper on Beijing housing and urban-rural construction and development, published on Tuesday, reveals the roadmap for both housing and construction in the capital this year.
According to statistics in the white paper, housing demand in Beijing continues to grow, and the factors driving price rises persist.
In 2016, new commercial housing in Beijing reached 46,200 units with space of 6.59 million square meters, down 40.8 percent and 32.4 percent year-on-year, respectively. The supply was the lowest in the past five years, the paper said.
In terms of transaction volume, last year the city's commercial housing turnover reached 326,000 units, increasing 15.6 percent year-on-year.