China to increase affordable rental housing supply: ministry-Xinhua

China to increase affordable rental housing supply: ministry

Source: Xinhua

Editor: huaxia

2022-02-24 17:21:16

BEIJING, Feb. 24 (Xinhua) -- China will work to expand the supply of affordable rental housing as part of efforts to resolve housing difficulties, said the country's housing authorities at a Thursday press conference.

With developing subsidized rental housing as one of the priorities this year, China will have 2.4 million units of government-subsidized rental homes available nationwide this year, said Wang Menghui, minister of housing and urban-rural development.

The country will also add another 100,000 public rental houses and renovate 1.2 million houses in rundown areas, said the minister.

In 2021, a total of 942,000 government-subsidized rental homes in 40 key cities were provided to help new city dwellers and young people in need of affordable housing, data from the ministry showed.

The country will maintain the continuity and stability of its housing policies and strengthen precision and coordination in policy maneuver, said Wang.