Shanghai will make more effort in fostering its residential leasing market this year by speeding up real estate development as well as offering support for professional home leasing companies and institutions, Shanghai Mayor Ying Yong said at the first session of the 15th Shanghai Municipal People's Congress, which opened today.

The city aims to add a total of 290,000 leasing units, including newly built rental apartments, to the local market in 2018 and set up a home leasing service platform, Ying said as he delivered the Report on the Work of the Government.

Shanghai will also add about 55,000 affordable housing units this year, improve its policies for joint-ownership houses and lower the application threshold for low-rent homes, according to the mayor.