National Subsidized Housing Plan to be Announced in Near Future
Up until the end of August, 2.2 million subsidized houses had started construction in China, covering 75% of the annual plan; 1.9 million shantytown houses had started renovation, covering 65% of the annual plan. Among these, 75% of low rent houses, 85% of public houses and 70% of urban shantytown houses have been constructed. This year, a total of 470 billion yuan (RMB) has been put into the subsidized housing projects. Furthermore, mid- and long-term subsidized housing plans are currently being made by local governments, and the National Subsidized Housing Plan (2010 - 2012) will be announced in the near future.
According to the statistics, 5.8 million subsidized houses and shantytown houses will be constructed and renovated this year, while 1.2 million old and dangerous rural houses will be reconstructed, which is much more than past years.
The Ministry of Housing and Urban-Rural Development (MOHURD) has already signed the Subsidized Housing Construction Contract with local governments to ensure that 5.8 million subsidized houses will be constructed this year, which is 3.2 million more than last year. The subsidies from the Central Government for the subsidized housing projects will exceed 60 billion yuan (RMB), continuing its large-scale increase. Also, this is the first time for the government to provide financial support for the renovation of sheds and construction of public rental houses.