Ni Hong: Accelerate the establishment of a housing safety inspection system, housing safety management funds and housing quality safety insurance system.

The recently published "Guidance Reader on the Suggestions of the Central Committee of the Communist Party of China on Formulating the Fifteenth Five-Year Plan for National Economic and Social Development" features an article by Minister of Housing and Urban-Rural Development Ni Hong titled "Promoting High-Quality Development of Real Estate." Ni Hong stated that it is necessary to establish a comprehensive life-cycle safety management system for housing. Starting from the actual situation of the large scale and long construction time of existing housing in China, efforts will be accelerated to establish a housing safety inspection system, housing safety management funds, and housing quality safety insurance system, to strengthen housing safety guarantee. The housing safety inspection system aims to promptly identify housing safety risks and hidden dangers. The housing safety management fund system aims to address issues related to funds for housing repairs. The housing safety management fund is composed of individual accounts and public accounts, with individual accounts being the special repair funds deposited by homeowners according to current regulations. Public accounts are established by the government following the principle of "taken from housing, used for housing", without increasing individual burden or diminishing individual rights, and are raised through fiscal budget allocation, collection from land transfer fees, and other means. The housing quality safety insurance system aims to enhance safety guarantee capabilities through a market-oriented approach.