China to provide more low-income housing
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China will build 13 million units of low-income housing over the next two years, according to a draft plan of the real estate industry, 21st Century Business Herald reports. The proposal will map out the industry's next five years and is expected to be unveiled at the end of the year.
Commercial residential buildings and low-income housing have been a focus for both real estate companies and the government this year. More housing for low-income residents is expected to affect the operation pattern and business model of the housing industry. Big real estate companies, including Vanke, Green Town, China Resources Land and Wanda, are reconsidering their business strategies for future development.
The Chinese government has a plan to build 5.8 million units this year, 6.8 million units next year and 6.2 million units in 2012. The local governments of Beijing, Shanghai, Guangzhou and Shenzhen have also made detailed plans.
China's business press carried the story above on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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