Among all the proposals submitted to the National Committee of the Chinese People's Political Consultative Conference (CPPCC), those related to the real estate market almost account for half, with emphases on affordable housing, property tax collection, and credit control in the real estate sector. The Central Committee of the China Revolutionary Committee (CRC) submitted a proposal suggesting that the "Housing Security Law" be formulated as soon as possible, the housing security system be improved, and the right to housing and basic housing needs of citizens be guaranteed by law. (See March 3rd issue of the China Securities Journal)
In recent years, the high cost of housing and the pain caused by it have been the focal point of discussion among urban dwellers. For many ordinary people, buying a house requires decades of saving without any other expenses. Cui Yongyuan, another representative attending the CPPCC meeting, pointed out that within the Third Ring Road of Beijing, the price is roughly RMB 30,000 to RMB 40,000 per square meter.