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Chinese vice premier urges to cover more low-income urbanites under low-rent housing system (2) |
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08:31, August 27, 2007 |
Meanwhile, local proceeds from the public housing provident fund should be invested in the building of low-rent apartments.
According to Zeng, all low-income urbanites should be covered by the low-rent housing system by the end of 2010.
He said the recent price hikes of apartments had a negative impact on the interests of the public. He called on local governments to stabilize the housing price and boost the healthy development of the real estate market.
Housing prices in 70 major Chinese cities were up a record 7.5 percent in July from the same month last year.
An industry group predicted that housing prices in Chinese cities will continue to rise in the third quarter this year despite government pledges to make housing more affordable for low-income families.
Source: Xinhua
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