Public housing fund exceeds 500 billion yuan

Home>>Business

Last updated at: (Beijing Time) Thursday, December 25, 2003

Public housing fund exceeds 500 billion yuan

DISCUSSION

CHINESE

SEND TO FRIEND

China's Minister of Construction Wang Guangtao said here Thursday that China's public housing fund had amassed 501.6 billion yuan (60.1 billion US dollars) since it was launched at the beginning of the national housing reform in 1996.

Wang said at the opening of the national conference on the public housing fund in Beijing that the sum was 21.4 percent more than the figure last year.

By the end of September, 154.9 billion yuan (18.7 billion dollars) had been used by Chinese workers and pensioners, with 207.5 billion yuan (25.1 billion dollars) of loans awarded, helping 2.76 million families to buy houses.

Wang said the system helped low and middle income families to buy houses by offering low interest rates. But as the loan fund still had 137.5 billion yuan, the future focus for national publichousing fund management sectors was to increase home loans.

Wang said about 44.3 million workers throughout the country still lacked cover by the public housing fund system, so the system's management should be restructured.

The government plans to cut the number of management centers from 2,444 to 344, and by the end of last November, about 327 cities will have public housing fund management committees.

Questions?Comments? Click here

State standard on housing quality assessment to be issued

Shanghai to regulate housing market to curb price hike: mayor

Beijing auctions land-use rights for first time

Trade war? A buying spree for cheap Chinese goods ( 55 Messages)

Humanization reform gets started in prison in China ( 2 Messages)

China develops IPv6 technology to tackle IP address exhaustion ( 3 Messages)

Returned overseas students to work in government ( 2 Messages)

EU considers lifting 14-year-old ban on arms sales to China ( 8 Messages)