In recent years, the downturn in the real estate market has made people aware of the risks that come with over-reliance on the real estate sector. Just as Japan turned to the animation industry, new materials industry, and automobile industry after the real estate bubble burst, China will also accelerate the pace of industrial restructuring. By promoting the development of high-end manufacturing and high-tech fields, sustainable economic growth can be promoted.
In terms of high-end manufacturing, China has made some progress. For example, China's technology in the field of 5G communications, artificial intelligence and new energy vehicles has become the world's leading level. In the future, China can further increase its support for high-end manufacturing, cultivate more outstanding enterprises and technological innovation projects, and enhance the country's industrial competitiveness.
In addition, the development of high-tech fields is also a key direction in the future. With the rapid development of artificial intelligence, cloud computing, big data and biotechnology, China can establish a globally competitive high-tech enterprise cluster by strengthening technological innovation and talent training. This will not only promote economic transformation and upgrading, but also provide more employment opportunities and development space for the people.
In order to solve the housing problem, China will speed up the construction of affordable housing and the pace of entering the market. According to the plan, 6 million affordable housing units will be launched in the next five years, and pilot projects will be carried out in 35 cities with a population of more than 3 million.
The entry of affordable housing into the market will help meet the housing needs of different groups. For people with a certain economic foundation, they can choose to buy commercial housing to meet their living needs. Low- and middle-income groups can apply to purchase affordable housing to get more affordable housing**.
At the same time, the ** of affordable housing will also be much lower than that of nearby commercial housing. In this way, it can not only alleviate the housing pressure of low- and middle-income groups, but also effectively curb the excessive speculation in the real estate market.
With the adjustment of the real estate market and the development of the domestic economy, the introduction of property tax has become more and more urgent. The collection of property tax can curb the demand for investment and speculation, reduce the vacancy rate of houses, and at the same time provide new tax sources for local governments and increase local fiscal revenue.
In the past few years, China has begun to enter the first production tax pilot, and plans to expand the scope of pilot cities. With the recovery of the domestic economy, the pace of property tax reform will accelerate in the future.
It is expected that in the future, the cost of owning a home for a family with more than two homes will increase. This will help reduce investment and speculation and promote the healthy development of the real estate market.
First of all, through the adjustment of industrial structure, China can reduce its dependence on the real estate industry and enhance the stability and sustainable development of the economy. By promoting the development of high-end manufacturing and high-tech fields, China's industrial competitiveness can be enhanced and economic innovation can be realized.
Second, the entry of affordable housing into the market will help alleviate the housing pressure of low-income groups and promote social equity and stability. Through the construction and development of affordable housing, the housing needs of different groups can be met and shared development can be realized.
Finally, the property tax reform will effectively curb the demand for investment and speculation, reduce excessive speculation in the real estate market, and promote the healthy development of the market. At the same time, the introduction of real estate tax can also bring new tax sources to the local government, increase local fiscal revenue, and achieve sustainable financial development.
To sum up, if the real estate market is difficult to reverse, starting from 2024, China will usher in three major changes: industrial structure adjustment, affordable housing entry into the market and real estate tax reform. These changes will have a positive impact on our economy and society, and promote the sustainable development of our country.