Xi Jinping's 2016 slogan "Houses are for living, not for speculation" becomes guiding real estate policy in China
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Summary
This article discusses the Chinese political slogan "Houses are for living, not for speculation" (房子是用来住的，不是用来炒的), coined by Xi Jinping in December 2016. The phrase became a guiding policy for the Chinese government to curb excessive speculation in the real estate market, which had grown rapidly due to a lack of other financial investment options. The slogan represents a policy shift aimed at cooling speculative investment in housing and prioritizing residential use over financial speculation.
Key quotes
· 3 pulledHouses are for living, not for speculation
房子是用来住的，不是用来炒的
The phrase was first coined by Xi Jinping, the general secretary of the Chinese Communist Party (CCP), in December 2016, and later became the guiding policy of the Chinese government towards the real estate sector.
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