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Affordable housing projects on fast track
Source: Xinhua |
June 8, 2012, Friday
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CHINA has invested a total of 389.5 billion yuan (US$61.66 billion) in the construction of affordable housing projects this year, the Ministry of Housing and Urban-Rural Development said yesterday.
In the first five months of the year, local authorities began construction on 3.46 million government-subsidized affordable housing units, the ministry said.
To date, 2.06 million affordable housing units have been built, nearly half of the 5-million-unit target set by the government for the end of 2012. The government plans to start construction on at least 7 million units in 2012, the ministry said. China has vowed to build 36 million affordable housing units during the 2011-2015 period in a bid to meet the demands of low-income families and cool the property market.
In the first five months of the year, local authorities began construction on 3.46 million government-subsidized affordable housing units, the ministry said.
To date, 2.06 million affordable housing units have been built, nearly half of the 5-million-unit target set by the government for the end of 2012. The government plans to start construction on at least 7 million units in 2012, the ministry said. China has vowed to build 36 million affordable housing units during the 2011-2015 period in a bid to meet the demands of low-income families and cool the property market.
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