In 2006, nine ministries and commissions, including the Ministry of Construction, made a thunderous attack and jointly formulated the Opinions on Adjusting Housing Supply Structure and Stabilizing Housing Prices.
It stipulates that "from June 1 2006, the proportion of newly approved and newly started commercial housing construction in Xing Tao with a building area of less than 90 square meters must reach more than 70% of the total development and construction area." This is commonly known as the 90/70 policy.
Extended data:
In 2006, nine ministries and commissions jointly issued the "90/70" policy, which aimed to reduce housing prices by increasing supply. However, with the resistance of developers and the acquiescence of local governments, it has now almost existed in name only. The main reason is that 70/90 is a nationwide "one size fits all", and the enforceability of the policy has been cut into pieces.
A series of problems such as housing design difficulties, market demand and sales management have become the main reasons for developers' hesitation. In addition, small huxing sales, high unit price, leading to an overall rise in house prices. The policy has been introduced for many years and basically exists in name only.
Baidu Encyclopedia -90/70 Policy