Hous­ing Ren­o­va­tion

Beijing Review - - THIS WEEK SOCIETY -

China will soon achieve this year’s hous­ing ren­o­va­tion tar­get for run­down ur­ban ar­eas, ac­cord­ing to data from the Min­istry of Hous­ing and Ur­ban-ru­ral Devel­op­ment on Novem­ber 17.

Con­struc­tion be­gan on 5.77 mil­lion homes in di­lap­i­dated ar­eas dur­ing the first 10 months of the year, ac­count­ing for 99 per­cent of the an­nual tar­get, the min­istry said on its web­site.

Dur­ing the pe­riod, more than

1.5 tril­lion yuan ($216 bil­lion) was in­vested in the ren­o­va­tion projects, ac­cord­ing to the min­istry.

The State Coun­cil, China’s cab­i­net, said in March that a new three-year ren­o­va­tion plan would be launched to ad­dress hous­ing in run­down ur­ban ar­eas, with con­struc­tion on 5.8 mil­lion homes to start by the end of the year.

This is part of the gov­ern­ment’s ef­forts to im­prove the liv­ing con­di­tions of peo­ple with hous­ing dif­fi­cul­ties.

The coun­try started ren­o­va­tion of 6.09 mil­lion homes in shanty towns in 2017, ex­ceed­ing its tar­get of 6 mil­lion.

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