China is going to stop land allocation for villa building and will provide more space for small and medium-sized, low price and economical housing construction, said Li Yuan, Vice Minister of Land and Resources on December 16.

Li said that China will continue to control on land supply for low-density, high class residence developments. For the five years to follow, the land policy will continue playing a role in leveraging the fixed assets investment, promoting the healthy development of the property market and securing stable economic operation.

A new policy on banning and limiting some land uses will be issued next year. Land use of national key construction projects will be top priority and projects fail to meet land policy will not be allowed, said the vice minister.

Shanghai municipality will also adjust its land use policy next year, said Tao Xiaoxing, deputy director of Shanghai Municipal Housing, Land and Resources Administration Bureau.

More space will be given for building consumer-oriented, ordinary commercial residence houses in the city. Land supply for building villas will be suspended and high class commercial houses will be controlled, said Tao.

By People's Daily Online