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Story summary
- Shanghai launched a plan to purchase second-hand homes for public rental housing, coinciding with the annual two sessions meetings.
- The pilot will run in Pudong, Jing'an, and Xuhui to meet rental demand from young residents, including college students.
- China Construction Bank will back the initiative to improve housing affordability and market liquidity.
- Analysts say major national policy changes are unlikely, but targeted city measures could stabilize the property market.
