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Providing affordable rental housing for low-income earners. That's what the central government promised. Now Shanghai has come up with a new idea to raise funds for the construction of public rental properties.
The Mayor, Han Zheng, says he will encourage enterprise annuities and insurance funds to take part in the construction of the city's public rental housing projects. He says this money, if deposited in banks, would only gain low interest. But if invested in the property market, a stable and considerable source of rent can be expected in long term.
- Public housing rentals need to be improved 2010-06-11