Jia Kang: Real estate policies should be more active. First-tier and second-tier cities should take practical measures as soon as possible to cancel purchase, loan and price restrictions

Recently, Jia Kang, the founding director of the Huaxia New Supply Economics Research Institute and the former director of the Ministry of Finance’s Institute of Fiscal Sciences, said in an interview that after the first-tier cities represented by Beijing, Shanghai, Guangzhou and Shenzhen “recovered”, there were some fluctuations in the second quarter, but some second-tier cities and provincial capitals performed better than first-tier cities in the second quarter. However, the overall recovery of the real estate market was less than satisfactory, in spite of positive policies, which shows that some measures should be taken more actively. Jia Kang pointed out that at the local government level, some third- and fourth-tier cities adopted some loose policy measures, and first- and second-tier cities should take practical measures as soon as possible in terms of possible cancellation of purchase restrictions, loan restrictions, price restrictions, etc. We should cancel all outdated measures as soon as possible to release rigid demand and improve demand. "I think that demand release will be possible," said Jia Kang.