Industry Group Proposes Establishment of 20 Billion Yuan Public Housing Fund
Published:
2011-03-01
The property association under the All-China Federation of Industry and Commerce, a party-led chamber of commerce consisting of Chinese industrialists and business, has submitted a proposal to the central government to establish a 20 billion yuan public housing fund. Wang Yuqing, deputy general secretary of the property association, estimated that such a fund could finance the construction of 20,000 policy-based houses, 2% of the central government's publicly-stated target for 2011 of 10 million government subsidized housing units.
Source
The Beijing News
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