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China spends more on affordable housing

Posted on 07 February 2013

China’s government has stepped up efforts to ensure housing for low-income residents as its regulated property market has warmed in recent months, new data has revealed. The central government allocated 233.26 billion yuan ($37.1 billion) for subsidized housing projects in 2012, up 36.2 percent year on year, according to an online statement by the Ministry of Finance on Wednesday.
Meanwhile, the country completed the construction of 6.01 million affordable units and renovated dilapidated buildings for 5.6 million households in rural areas, the statement said………………………………………..Full Article: Source


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