The stimulus measures should help China's efforts to de-stock in the property industry, especially in the smaller cities. --where the pressure of de-stocking is especially huge due to limited market demand.

Data from the National Bureau of Statistics showed that by the end of 2015, the area of China's property for sale totalled a record high of nearly 720 million square meters.

In 2015, the real estate sector only contributed less than 0.1 percent of the economic growth, the lowest in recent decades.

There are currently about 250 million people who are not registered in the household system, and can not buy properties under their names. According to the Central Economic Working Conference held at the end of last year, the government will work on reforming the household registration, and also reform the current housing regulations, to release more demand in the market.

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