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China to spend 33b yuan for low-rent housing

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-03-11 10:18

China plans to spend 33 billion yuan in building low-rent apartments this year in an effort to address the housing problems for 2.6 million low-income families this year, Qi Ji, vice minister of Housing and Urban-Rural Development, said on Wednesday.

Around 70 percent of those low-income families will move into houses provided by the government, while the other 30 percent will get a subsidiary for housing, Qi said.