BEIJING -- China will implement a new guideline to provide stronger financial support for the rental housing market.

The guideline, released by the People's Bank of China and the National Administration of Financial Regulation, will take effect on Feb 5.

According to the guideline, there will be more credit available for rental housing development and operation, and better financial services on offer for related businesses.

The guideline encourages efforts aimed at meeting the reasonable financing needs of groups wishing to purchase rental housing in bulk. It encourages commercial banks to explore financial service models and financial products tailored for enterprises linked to the rental housing sector.