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China sets more land for residential uses

08-02-2010 11:00 BJT

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In the first half of this year, the Chinese government set side 56,000 hectares of land for residential use, up 135 percent over the same period last year.

The Ministry of Land and Resources has been focussed on making available land supplies. Land provided for public rental housing accounts for 9,500 hectares, up 133 percent compared to a year ago.

Despite the increased supply, land prices have stayed steady with minor falls. This is due to the uncertainty of housing market prospects. Since the government's measures to curb housing market speculation in April, average house prices in 70 major cities fell 0.1 percent in June from May.

Editor:Xiong Qu |Source: CNTV.CN

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