One area of special focus in the 4-trillion-yuan stimulus package is housing projects for low-income residents in urban areas.
 |
|
Officials say building of more than 400,000 low-rent housing units is expected to start before the end of the year.
|
Officials say building of more than 400,000 low-rent housing units is expected to start before the end of the year. Around 1.2 million such units are already under construction as of November this year.
Estimates suggest that the first three quarters of the year saw 32 thousand low-rent buildings being completed. While 85 thousand low-price residential buildings were built, also in the same period. 18 billion yuan has been invested into low-priced housing. It's said new housing initiatives will receive a budget of 900 billion yuan over 3 years, also generating about 3 million jobs.
Qi Ji, vice minister of Housing & Urban-rural Construction Ministry, said, "We have a plan, and the plan is to supply more than 2 million low-price housing and 4 million low-rent residences in the next three years as well as the reconstruction of temporary housing in the areas of forestry, agriculture and mining."
(CCTV November 15, 2008)
