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Factbox: China's affordable housing achievements

English.news.cn   2012-10-14 16:49:29            

BEIJING, Oct. 14 (Xinhua) -- The government has stepped up efforts to construct affordable housing over the past five years in order to give more low-income households access to inexpensive housing amid the country's rapid urbanization process.

The following are facts and figures related to government-subsidized affordable housing projects over the past five years:

-- In 2007, the central government unveiled policies intended to solve housing problems for low-income urban households, allocating 7.7 billion yuan (1.22 billion U.S. dollars) for low-rent housing projects.

-- China started to build affordable housing units in 2008, aiming to house 20 percent of urban low-income families by the end of the 12th Five-Year Plan period (2011-2015).

-- In 2008, the central government spent 18.19 billion yuan to support affordable housing projects.

-- In 2009, the nation's total funding for affordable housing programs reached 55.06 billion yuan. The government also stepped up subsidy support for low-rent housing programs, especially in less-developed regions in west China.

-- In 2010, the central government earmarked 80.2 billion yuan from its budget to fuel the projects. Construction on 5.9 million affordable housing units began that year.

-- In early 2011, China vowed to build 36 million affordable housing units between 2011 and 2015.

-- In 2011, construction began on 10 million affordable housing units. By the end of the year, a total of 26.5 million households in cities had benefited from affordable housing projects, representing 11 percent of the country's total urban population.

-- In the first nine months of 2012, China started construction on 7.2 million affordable housing units, exceeding the annual target of 7 million units.

-- The construction of 4.8 million affordable housing units was completed within the first three quarters, closing in on the annual target of 5 million completed units.

Editor: znz
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