Construction of more low-cost housing is urged at an executive meeting of the State Council Wednesday, in order to sustain the development of China's fledgling real estate sector.
The Chinese Ministry of Construction presented a report to the executive meeting of the State Council, which was convened to discuss the development of the real estate market and re-employment.
Members of the State Council agreed that the development of the real estate industry could only be sustained by building more economical apartments for low-income families, further reforming the housing system, increasing mortgage loans, improving management of the planning and controlling the supply of land to developers, and strengthening market supervision.
The meeting also heard a report by the Ministry of Labor and Social Security on re-employment, analyzed the re-employment situation, and studied new measures to help laid off factory workers find new jobs.
Meanwhile, the members approved in principle drafts of the Provisions on the Administration of Marital Registration and the Provisions on the Administration of the Practice of Rural Doctors.
The two regulations are expected to promulgated and enacted by the State Council after further amendments.
The meeting was presided over by Premier Wen Jiabao.
(Xinhua News Agency July 30, 2003)
