According to this report, the purpose of the legislative change was “to provide national banks with the ability to engage in more creative and flexible financing, and to become stronger participants in the home financing market.” Although creative and flexible financing might remain a goal in housing, sound lending standards cannot be ignored if we are to have sustainable housing growth.
It’s a pleasure to attend the 2017 Lujiazui Forum. China has built a socialist market economy to promote social and economic progress and reach prosperity through competition and optimal resource allocation. During this process, opening-up has played a significant role. I’d like to share my understandings of opening-up based on relevant international and domestic experiences. 1.