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China invests US$129b on affordable housing
Source: Xinhua |
September 11, 2012, Tuesday
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Print Edition
Print Edition
CHINA invested 820 billion yuan (US$129.4 billion) in building affordable housing units for low-income groups in the first eight months of this year, the Ministry of Housing and Urban-Rural Development said yesterday.
Local governments across the country have started building 6.5 million government-subsidized housing units from January to August, up from 5.8 million units in the first seven months of the year, according to the ministry.
The construction of affordable housing in August brought the government one step closer to achieving its goal of starting construction on over 7 million units this year as part of its five-year plan to build 36 million such units by 2015.
Construction on 4.2 million affordable housing units was completed in the January-August period after pooling a total investment of 820 billion yuan.
Local governments across the country have started building 6.5 million government-subsidized housing units from January to August, up from 5.8 million units in the first seven months of the year, according to the ministry.
The construction of affordable housing in August brought the government one step closer to achieving its goal of starting construction on over 7 million units this year as part of its five-year plan to build 36 million such units by 2015.
Construction on 4.2 million affordable housing units was completed in the January-August period after pooling a total investment of 820 billion yuan.
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