Funding guaranteed for affordable housing
Updated: 2012-02-06 14:40
By Wei Tian (chinadaily.com.cn)
|
|||||||||||
BEIJING - The Ministry of Finance on Monday released a series of measures in an effort to guarantee funding for affordable housing projects in 2012.
To broaden the source of funding, income of bonds issued by local government, as well as pilot property taxes, was urged to be focused towards affordable housing projects, the ministry said.
Local governments are encouraged to make appropriate arrangements in their fiscal budget to support renovation of shantytowns, and allocate funds to improve the supporting facilities around affordable housing communities.
Such projects will also receive discount on loans from commercial banks, with a degree of 2 percentage points, and a maximum period of 15 years, the ministry said.
There will be 7 million units of affordable housing starting construction in 2012, and another 4 million to see completion. The 2012 target is much lower than the 2011 goal of 10 million units.
Related Stories
Beijing to unlock affordable homes 2011-01-20 17:34
State Council presses on affordable housing 2011-07-14 15:57
China uncovers misuse of affordable housing program 2011-06-27 14:50
New channels mulled to fund affordable housing 2011-06-15 14:04
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |