The Ministry of Construction (CMC) will take measures to control
the excessive increase in housing prices.
In
the first half of this year, China's commodity housing price index
rose 11.1 percent over the corresponding period of last year, with
especially large increases in Beijing, Shanxi, Yunnan and Inner
Mongolia.
"We will resolutely develop affordable housing for people with low
or medium incomes," Xie Jiajin, a senior official with CMC said in
Beijing Friday.
China plans to invest 170 billion yuan in the construction of
affordable housing in construction areas totaling 225 million
square meters within this year.
According to the demands of the housing market, the CMC will
maintain a rational supply of land, Xie said.
The CMC will also improve the macro-monitoring system, and carry
out necessary control through the supply of land, tax collection,
and financial means.
Xie said that China will implement all kinds of preferential
policies to decrease the housing tax and irrational charges as well
as encourage the development and sale of affordable houses.
(Xinhua News Agency 08/10/2001)