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China to break ground on 10 mln low-income apartments by end of Nov.

10-26-2011 08:46 BJT

BEIJING, Oct. 25 (Xinhua) -- China will have begun construction on 10 million low-income housing projects by the end of November, the Ministry of Housing and Urban-Rural Development said on Tuesday.

According to the ministry's statistics, by the end of September, plans were finished for 98 percent of the planned construction projects, or 9.86 million apartments.

Minister of Housing and Urban-Rural Development Jiang Weixin said the apartments include 1.65 million low-rent apartments, 1.10 million low-income apartments and 2.27 million public rental apartments.

Jiang said the central government has allocated 152.2 billion yuan (23.9 billion U.S. dollars) to subsidize the construction efforts on top of a 1.3 trillion yuan construction fund.

However, Jiang also pointed out major problems in the construction efforts, including poor support facilities, faulty distribution and management, fundraising issues, a lack of top-level planning and lagging regulation development.

 

Editor:Zhang Rui |Source: Xinhua

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