New channels mulled to fund affordable housing

Updated: 2011-06-15 14:04


Twitter Facebook Myspace Yahoo! Linkedin Mixx

BEIJING - China's housing ministry said on Tuesday that the country's top economic planning agency was mulling new financing mechanisms, with the issuance of corporate bonds an option, for local governments building affordable houses.

Related readings:
New channels mulled to fund affordable housing Vice-premier urges building affordable housing
New channels mulled to fund affordable housing Affordable housing for the needy
New channels mulled to fund affordable housing More land opened up for affordable housing
New channels mulled to fund affordable housing Why you can't own an affordable house

In a statement on its website, the Ministry of Housing and Urban-Rural Development (MOHURD) said the funds for building affordable housing should be raised through multiple channels, and the National Development and Reform Commission (NDRC) was planning to allow local governments to raise funds through issuing corporate bonds.

The MOHURD also called upon local authorities to innovate new financing mechanisms to expand the channels for financing affordable house building.

The ministry urged local governments to step up efforts to make sure that construction of 10 million affordable housing units, planned for this year, would be all underway by the end of November.

"Four million affordable housing units must be finished this year," said the statement.

The ministry also called for strict quality supervision in terms of designing, raw materials and construction, and urged local governments to fairly distribute the government-subsidized housing.


When two are one

After a separation of 360 years, Huang Gongwang's famous Dwelling in the Fuchun Mountains has been made whole again.

Wealth of difference

Rich coastal areas offer contrasting ways of dealing with country's development

Seal of approval

The dying tradition of seal engraving has now become a UNIVERSITY major

Suzhou: Heaven on Earth
The sky's the limit
Diving into history