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China aims to upgrade substandard dwellings in urban areas
(Xinhua)
Updated: 2010-01-09 16:58
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China issued a directive Friday that aims to promote renovation of the substandard dwellings in the country's urban areas and at State-owned factories and mines, in a move to improve the livelihood of low-income people.
Renovation of squatter homes in cities and at State-owned factories should be completed in the next five years, according to the directive posted by the Ministry of Housing and Urban-Rural Development on its website.
Priority should be given to "the shanty towns covering large areas and with severe safety defects," according to the ministry.
The directive put forward multiple ways to finance the renovation work, including government funds, favorable loans from financial institutions, and tax rebates.
By the end of 2008, China had 11.48 million families living in substandard housing, 7.44 million of which lived in cities, 2.38 million near State-owned plants and mines, 1.66 million in forest zones and reclamation areas.
