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Local governments reluctant to build affordable housing |
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17:32, August 24, 2009 |
Under the circumstances of generally unsatisfactory fiscal revenues at local level this year, the number of affordable houses being constructed in the first half was relatively small. Reluctance by some local governments to invest in such housing projects is one of the major reasons.
Land for affordable housing is allocated by the governments. However the governments make no profit from the land and have to inject large quantities of funds.
In the third quarter of this year, relevant departments under the State Council will conduct comprehensive examination on the overall situation of construction of the national welfare housing projects for mid-low income groups.
The implementation of construction plans will be the key area examined. Local governments that fail to implement policies as scheduled will be criticized by an official announcement.
By People's Daily Online
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