China issues first regulation on low-price houses for middle and low incomers

China's first regulation on low-price houses for middle and low income families took on effect Thursday.

China started to build low-price houses specially for the middle and low-income families in 1998 when the country launched its large-scale housing reform. With years of efforts, low-price houses have been proved to be an effective way for middle and low income families to get their houses.

Statistics from the Ministry of Construction show that by the year 2003, low-price houses of 477 million square meters have beensold to over six million middle and low-income families.

The new regulation stipulates the standard for the building and selling of low-price houses to ensure that they meet the needsof middle and low income families.

According to the regulation, the Chinese government will give more support in the future to build more low-price houses for the middle and low-income families.

Source: Xinhua