China boosts financial aid for affordable housing
Updated: 2012-02-07 09:51
(Xinhua)
|
|||||||||
BEIJING - China on Monday vowed to expand financial support for affordable housing projects this year as the government continues its efforts to bring housing prices back to reasonable levels.
Central and local governments' financial support for the initiative will be greater than last year, the Ministry of Finance said in a statement on its website.
However, the ministry did not provide detailed figures. According to statistics from the Ministry of Housing and Urban-rural Development, from January to the end of November 2011, the country spent 152.2 billion yuan ($24.16 billion) from the central budget on affordable housing construction last year.
Revenue from this year's local government bond sales will be prioritized to support affordable housing projects, while revenue from property taxes, which are now being implemented on a trial basis in the cities of Shanghai and Chongqing, will be earmarked for the initiative.
The ministry said financial authorities should "exert every effort" but also act "according to their capability" when ensuring funds for affordable housing projects.
The government has vowed to build 36 million affordable housing units during the 2011-2015 period in an effort to give more mid- and low-income households access to housing and stabilize runaway property prices, with 10 million units planned for both 2011 and 2012.
In December, 52 cities out of a statistical pool of 70 major Chinese cities saw drops in new home prices from November, compared with 49 cities the previous month.
Relief reaches isolated village
Rainfall poses new threats to quake-hit region
Funerals begin for Boston bombing victims
Quake takeaway from China's Air Force
Obama celebrates young inventors at science fair
Earth Day marked around the world
Volunteer team helping students find sense of normalcy
Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
![]()
|
![]()
|