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New Housing System to Be Launched by China in 2001
China is going to launch a new housing system in 2001. This system, targeted at commercializing housing, will be made up of seven systems: housing distribution, housing supply, marketing, intermediate, financing, residential property management and governmental micro-control.
According to Outlook Weekly (first issue), by the end of 2000, China had thoroughly abolished the housing system featuring distribution in kind and from 2001, it will implement a new housing policy.
Two years have passed since the proposal for monetizing housing was put forward, however, some cities still failed to work out relevant plans; some departments in those cities, which already formulated plans, have not yet put allowance funds in place; among urban residents, there are very few enterprises and institutions implementing a monetized distribution plan, superficially, it is due to insufficient financial sustainable capability, but the main reason is their inadequate understanding.
China has basically accomplished the task of abolishing the old housing system and the task of establishing a new one is being carried out. In this process, many deep-seated problems have cropped up. Under such circumstance, it will take at least 20 years to fulfill the task of establishing a new housing system.
By PD Online staff member Li Yan
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