Warning that risks remain in the property market, China's government said in a report released at parliament's annual opening on Sunday that it would promote the sector's stable development and prevent disorderly expansion by developers.
"There are many risks in real estate for homebuyers and property developers, such as buyers' threat of stopping mortgage repayments, failure to deliver pre-sold homes and default on debt by developers, which indicates a lack of consumption power and confidence," said Yan Yujin, analyst at E-house China Research and Development Institution.
Premier Li said the government would resolve housing issues for young people and support the needs of homebuyers.
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