Doubts about ambitious plans..

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In March this year, we saw this ambitious graph on China Daily’s front page: the targets of government subsidized housing. The 12th five year plan described the goal to build the number of 36 million social housing units between 2011 and 2015; starting with 10 million this year. But South China Morning Post‘s Ed Zhang reports that the results are lacking behind:

With four months to go, construction has begun on just 30 per cent of the homes – a sign that many local governments are still having trouble securing funding and land for the subsidised homes ordered by Beijing.

Last month, the Ministry of Housing and Urban-Rural Development ordered local governments to report on how many houses work had started on by this week, and the statistics show that the pace is far slower than Beijing wants.

Apparently, only 30 percent of the projected homes are under development right now. The reason? Lack of cooperation, and lack of money. Gu Yunchang , vice-president of the China Real Estate Association:

It remains an old problem of local governments not [being] motivated enough in preparing land and mobilising funds for subsidised housing.

Social housing with Chinese characteristics?

One Response to this post
  1. Posted on June 19, 2011 by Dennis

    hi, i am looking for the source of this article, but cannot find it ;( could you send me the link to the article by china southern morning post? thanks!
    dennis

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