--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

157.8 Billion Yuan Invested in Affordable Housing
The Chinese government will step up construction of affordable housing for middle and low-income earners this year by investing 157.8 billion yuan (US$19 billion).

Officials said the investment in low-cost houses next year would increase to 166.3 billion yuan (US$20 billion).

The floor space of low-cost housing under construction would be200.23 million square meters in 2003, said a circular released by the Ministry of Construction, the National Development and Reform Commission and the Ministry of Land and Resources.

The circular said sales of the low-cost housing would be restricted to middle and low-income earners.

Once the prices were published by pricing authorities, developers or individuals would be prohibited from raising the prices or levying unwarranted additional fees, according to the circular.

Governments at all levels must call for public tenders when allocating construction land and select qualified developers for development, said the circular.

Governments are also responsible for monitoring the engineering quality, it said.

China has stepped up efforts to provide homes for low-income urban residents in recent years by building more low-cost housing.

(Xinhua News Agnency June 20, 2003)

Real Estate Industry Remains Flat
Network to Guide Housing Industry
Public Housing Goes Green
Low-rent Housing Benefits More People in Shanghai
Housing Scheme Continues
Chinese Capital Invests Heavily in Redevelopment
Housing Loans Under Scrutiny
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright ©China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688