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China to build 10 mn low-cost homes

08-18-2011 17:12 BJT

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China plans to spend 1.4 trillion yuan to support construction of welfare housing in 2011, with a target of building 10 million units of affordable homes.

So far, the National Social Security Fund Council has injected about 10.5 billion yuan through trust loans to three cities, including Nanjing, Tianjin and Chongqing. The Council says it has implemented rigorous monitoring policies, such as quarterly progress checks on construction, reports and calculating loan interest every quarter.

Wang Zhongmin, deputy chairman of National Social Security Fund Council said, "We will continue to pay attention to this program, and invest in it over the next few years. We still have around 10 thousand million yuan to invest for the rest of this year."

Editor:Li Wanran |Source: CNTV.CN

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