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Housing Allocation in Currency Achieved in Majority Provinces in China
An official of China's Ministry of Construction remarked that the reform of housing system in China is making a substantial way ahead. The materialized allocation of houses has been suspended across China and instead the allocation of apartment in currency is to be brought about and implemented in majority of provinces, cities and autonomous regions.
Nie Meisheng, Director of the Housing Industry Promotion Center of the Ministry of Construction said that with the progress made in housing reform, the selling ratio of sellable public houses has reached over 60% in majority of provinces, cities and autonomous regions. This ratio in Chongqing, Zhejiang, Henan, Guangxi have exceeded eighty percent.
In addition, residents are increasingly coming to be the main body of housing consumption, the proportion of personal purchase of houses to the sales of all urban commodity houses in China has reached over seventy percent.
The official also noted that in order to promote personal housing consumption, China is step by step establishing a system of accumulation funds for houses and personal housing loans is also under way.
By the end of last year, the workers and staffs joining in the housing accumulation funds system in China reached 69 million with the raised accumulation funds hitting 140.9 billion yuan, a rise of 39.8 billion yuan.
Housing credit is burgeoning too. The personal housing loan granted by CBIC, Agricultural Bank, BOC, Construction Bank has reached 74.6 billion yuan, the national balance of personal housing loan is seen at 126 billion yuan, an increase by 76.9 billion as compared to that of the year before.
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