Ur­ban re­newal spend­ing

Global Times US Edition - - BIZOVE -

China’s hous­ing min­istry said on Wed­nes­day in­vest­ment in a mas­sive ur­ban re­newal project topped 1.5 tril­lion yuan ($215.88 bil­lion) in the first ten months of the year.

An­a­lysts said the project has boosted prop­erty de­mand as res­i­dents are en­cour­aged to use cash com­pen­sa­tion to buy a new home when their ex­ist­ing one is de­mol­ished.

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