Land available for 10 m new 'affordable homes'
0 
He added that the heads of 12 places with rampant land misuse had been summoned to the ministry for "face-to-face" discussions.
But, according to a report from WorldUnion Properties, the construction of the 10 million affordable homes this year might be hampered not so much by a lack of land as a lack of funding. It suggested funding could fall short by as much as 816.2 billion yuan ($124.4 billion), which is more than half of the 1.3 trillion yuan needed.
Zhang Rongming, vice-chairwoman of the CPPCC National Committee, said a shortage of funding could be a problem, despite the fact that the government will raise money from its allocated fiscal revenue, the housing provident fund and local authorities' land transfer revenues.
"We expect the central government will contribute more to the cost of construction and favorable policies could be brought in to encourage other capital to be invested in the project," she said.
Yan Qingmin, a member of the CPPCC National Committee, said the role of bank loans in the regulation of the property market should not be overestimated.
"Because a tightening monetary policy usually has to be conducted through management of credit," said Yan, who is also assistant chairman of the China Banking Regulatory Commission.
Yan, who was speaking on Friday, suggested the government relies more on tax and fiscal support to curb increases in the cost of real estate and to fund the building of the affordable homes.
Go to Forum >>0 Comments