China to invest in low-cost homes
The Chinese government is planning to spend nearly $200 billion on homes for low-income families this year. They are trying to make it easier for people to buy a place to live as property prices in most Chinese cities are still increasing every month. Chris Hogg reports. The government’s promising to build or renovate 10 million households for low-income families this year and next. Officials will provide about 40% of the cost. The rest will be raised from the families or companies who benefit from the programme. It’s an ambitious target, perhaps too ambitious. The state-controlled media here says, last…
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