China spends billions in housing renovation
Updated: 2015-06-20 11:05
(Xinhua)
|
|||||||||||
![]() |
|
Workers demolish an old building in Nantong, Jiangsu province. [Photo/China Daily] |
Specifically, 149.4 billion yuan was used to renovate run-down areas, while 36.5 billion yuan was allocated to rural housing, according to MHURD Vice Minister Wang Ning.
The government is pushing to improve housing conditions amid rapid urbanization.
The State Council, China's cabinet, on Wednesday announced a plan to build 18 million apartments in urban areas and renovate 10.6 million rural houses between 2015 and 2017.
Wang said the ministry will formulate an implementation plan for the program and draft a financing mechanism.
From 2008 to 2014, the central government allocated 450.6 billion yuan to the program, according to Wang.
Related Stories
State adds $1.6b to low-cost home rebuilding 2015-06-20 07:43
China orders a nationwide renovation of buildings with safety hazards 2015-06-18 09:44
Beijing housing price hits 500,000 yuan per square meter 2015-06-17 13:55
Economist refutes housing market slump 2015-06-11 16:05
Today's Top News
Visa process for Chinese traveling through Europe streamlined
Grexit risk hikes
The most costly cities for expats
China, Russia sign railway deal
No mistreatment of GSK sleuth: Govt
Lies and false hopes entrap Xinjiangers
EU seeks to ban animal cloning
HK lawmakers reject election reform proposal
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
|
|
|
|
|
|













