Hainan also announced an islandwide housing quota

regarded as the strictest in the country-to curb speculation. The new rules required tho

se who do not live on the island but want to buy houses to provide local tax records for the past 60 months from

at least one member of the applicant’s family-making it impossible for nonnative residents to buy a home there.

“The latest move to help newcomers buy a home will make talented

people feel more at ease and work more wholeheartedly,” said Xia Feng, director of the e

conomic research department of the China Institute for Reform and Development.

“The government should also promote the rental housing market for those who cannot afford

to buy, and cultivate more diversified business platforms to attract talent from outside the island,” he said.

Wang Lu, chairman of Jincheng Consultancy, a Haikou-based real estate information p

rovider, said that because of the province’s small population base and weak economic and industrial foun

dation, investment and talent attraction are two urgent issues for the development of the FTZ.

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