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China Speeds Up Housing Reform in Enterprises
China is carrying out housing reforms in its enterprises by commercializing housing allocation instead of distributing houses as a form of welfare. Presently, houses owned by various enterprises account for 70 percent of China's total in urban areas. These are being sold to workers and staff.
According to a senior official with the Ministry of Construction, workers and staff in enterprises may enjoy preferential treatment when they buy houses by using subsidies, public housing funds or loans.
The enterprises may develop their own ways to encourage workers and staff to buy publicly-owned houses by taking into account the interests of the State, enterprises, and workers and staff which should be implemented in line with the central government's housing reform policy.
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