Source: CCTV.com

08-27-2008 11:12

The first half of the year has seen China invest just over 8 billion yuan to develop low-rent housing in the central and western regions. And the plan is set for further expansion, with authorities saying they want to ensure more low-income families benefit from affordable accommodations by the end of the year.

The Ministry of Housing and Urban-Rural Development says 8.1 billion yuan was put into building low-rent housing in the central and western regions in the first half of the year. And that is 4.6 billion yuan more than what was spent in the whole of last year.

The first half of the year has seen China invest just over 8 billion yuan to develop low-rent housing in the central  and western regions.

But further developments still lie ahead with attention turning to building similar accommodation in the relatively more developed eastern region.

Hou Ximin, official of Min. of Housing and Urban-Rural Development, said, "Since the setting up of price-capped housing last year, a total of 950-thousand low-income families have benefited. We have set the target of this year at 3.45 million. In other words, by the end of this year, many more low-income urban families will be covered by the welfare housing system."

China's public housing provident fund topped 1 trillion yuan at the end of June. Relevant authorities say this means employees in urban areas, especially those with medium-to-low incomes, can expect to improve their housing conditions, and enhance their payment capabilities with the housing fund.

Low-rent housing plays an essential role in China's housing ecurity system. The central government has promised to provide more low-rent housing through construction purchase, renovation and other means. And it has also vowed to grant special financial support to central and western regions to develop this category of accommodation, in a bid to help more families benefit from the system.

 

Editor:Zhao Shanchao