Chinese companies back government plan for more city rentals
Alipay and property developer China Vanke are among the companies throwing their weight behind the Chinese house rental sector, set to be worth CNY4.2tn ($630bn) by 2030. The initiative, which aims to cool the country's overheated house-buying market, includes a recently introduced policy from Beijing addressing some of the obstacles to renting, including tenants' rights and living conditions. In addition, at least 10 cities have been allocated land to build rental properties, but analysts have warned the rental sector will require sustained support from the government to fully develop.

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