In a move to stabilise falling home prices nationwide, Beijing will give local governments more flexibility and power to support their property markets.

While they must implement the central government's policies, local authorities, based on their own needs, could introduce measures to encourage spending on housing markets and develop welfare housing for the low-income group, the State Council said on Sunday.

The announcement came after Beijing last week announced measures, including tax reductions and loosened credit, to boost the ailing real estate market.

South China Morning Post