Xi Jinping's "building completion assurance" policy has encountered yet another setback, highlighting its inadequacies. Despite allocating 350 billion yuan for completing unfinished buildings, the initiative failed due to homeowners' refusal to cooperate. Homeowners demand renegotiated contracts, compensation, and lower property prices, as they face declining property values and poor construction quality. Local governments' unilateral decisions and lack of engagement with homeowners worsened the situation. The impasse reflects broader governance issues within the Communist Party, characterized by disconnect and bureaucratic interests over public sentiment. If local governments are blamed for the policy's failure, coercive measures may exacerbate homeowners' plight. This underscores the need for meaningful dialogue and adherence to agreements to resolve the unfinished building crisis.
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