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China to construct 7 mln affordable homes in 2015
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CHINA will begin construction of seven million apartments under the affordable housing program in 2015, the Ministry of Housing and Urban-Rural Development (MOHURD) announced on Friday.
MOHURD minister Chen Zhenggao revealed the target at a national conference on housing and urban-rural development. He said 4.8 million such homes should be completed next year.
The affordable housing program is aimed at providing cheap homes for eligible low-income earners. China began the construction of over seven million homes and completed 4.8 million in 2014.
Chen said China will also continue to push forward the shanty town renovation program extensively as "it can not only improve people's livelihood but also spur economic growth".
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