Li Keqiang pledges affordable housing for all in China

Want China Times, Xinhua 2014-03-13

A monitor at Beijing Railway Station broadcasts Li Keqiang's press
conference live, Mar. 13. (Photo/CNS)

China will adopt a varied approach in regulating the housing market, and curbing speculation and investment-oriented purchases, the Chinese premier, Li Keqiang, said on Thursday.

At a press conference held at the end of China's annual "lianghui" — the twin meetings of the National People's Congress and the Chinese People's Political Consultative Conference in Beijing — Li said China will increase the supply of ordinary commercial housing in the market.

A long-term mechanism will be built to ensure steady and sound growth of the housing market, the premier said.

Li said the goal of the government on the housing issue is to provide adequate housing for the entire population, noting that some 100 million Chinese still live in poor, run-down areas of cities.

He said the government will redouble efforts to overhaul run-down areas this year, pledging to rebuild 4.7 million shanty houses as proper housing.

More government-subsidized housing such as public rental properties will be built, and efforts will be made to ensure that housing is distributed equitably, he said, adding that "a small action is more important than a thousand words."

Related Article:

In Public Housing, the Rot of Corruption