China says will keep real estate market stable this year

China will keep the real estate market stable and step up coordination and precision of property policies this year, the country's housing minister said on Thursday.

Genuine demand for housing remains firm, Wang Menghui, head of the Ministry of Housing and Urban-Rural Development, told reporters at a news conference.

The country will continue to eliminate any project delivery risks by some individual property developers due to their debt defaults, Ni Hong, vice minister, said at the same press conference.

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