Reports: Central Government to Reduce Government-Subsidized Housing Construction Target
According to a report in the Hong Kong Economic Journal, due to tightened monetary policy and doubts about local government debt, local governments in China may be forced to slow down construction of government-subsidized housing as they meet difficulties in raising capital to fund the projects. Some analysts are saying that the central government might miss this year's target of constructing 10 million low-cost apartments and that the official target may have to be reduced.
Source
Caijing
http://www.caijing.com.cn/2011-08-11/110808508.html
Google translation
http://translate.google.com.hk/translate?hl=zh-CN&ie=UTF8&prev=_t&sl=zh-CN&tl=en&u=http://www.caijing.com.cn/2011-08-11/110808508.html
According to a report in the Hong Kong Economic Journal, due to tightened monetary policy and doubts about local government debt, local governments in China may be forced to slow down construction of government-subsidized housing as they meet difficulties in raising capital to fund the projects. Some analysts are saying that the central government might miss this year's target of constructing 10 million low-cost apartments and that the official target may have to be reduced.
Source
Caijing
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