Chinese Vice Premier Han Zheng on Friday stressed efforts to implement the long-term management mechanism to promote the sound and healthy development of its real estate sector.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a symposium on the country's real estate work.

While acknowledging the achievements obtained since the long-term mechanism was implemented, Han also emphasized the need to stick to the stance that "housing is for living in, not for speculation."

China will avoid taking the property sector as a short-term stimulus to the economy, stick to the principle of adopting city-specific policies, and tailoring housing regulations for different cities, Han said.

The country should take a problem-oriented approach and attach great importance to the new situations and problems in the housing market, Han said, adding that efforts should be made to put in place a prudential management scheme for real estate finance and prevent funds from illegally entering the market.

Han also called for efforts to leverage fiscal and tax policies to effectively adjust people's housing demands and eradicate illegal activities in the market.

The country will also beef up support to help young and new dwellers in cities to address their housing difficulties, the vice premier said. 

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