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Better housing
Source: Shanghai Daily |
December 21, 2012, Friday
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Print Edition
Print Edition
SHANGHAI wants to improve housing conditions for more residents by transforming old areas with financial support from China Development Bank. The city signed a deal with the lender's Shanghai branch yesterday to fund the reconstruction of the old areas, which requires funds up to 400 billion yuan (US$63.6 billion) in the next three years. Shanghai targets to demolish 60 hectares of old houses this year, which will benefit 25,000 households.
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