Beijing vice- and acting mayor Guo Jinlong said yesterday the municipal government will work hard to contain the housing price hike and provide low-rent housing for poor residents.
He said the government will, among other measures, strengthen macro controls on the property market, adjust land provision and keep a tight housing credit policy to achieve the goal.
The government will spend 2.9 billion yuan ($400 million) to build and purchase 500,000 sq m of houses and flats and rent them to low-income residents at affordable prices, the official told about 770 lawmakers at the annual session of the legislature.
Beijing will also build a total of 7.5 million sq m of houses and flats with reasonable prices and sizes this year, as one of the measures to curb the price hike, Guo added.
The government has plans to spend 580 million yuan to renovate the houses of 10,000 families that live in dangerous conditions.
The average property price in 70 major cities in the country last month were up 10.5 percent from the same period last year, while in Beijing it was up 17.5 percent, showed figures from the National Development and Reform Commission earlier this week.
Officials from the Ministry of Construction have criticized some developers for only focusing on building large-sized luxurious apartments for high profits.
A number of developers hoarded land and apartments or spread false information to create public fear of housing shortages to drive up prices, said Vice-Minister of Construction Qi Ji.
Earlier this month, the State Council, China's Cabinet, made amendments to the regulation on administrative punishment for price violations, which will hand out more stringent penalties for illegal price manipulation.
Questions:
1. How much will the Beijing government spend on buying and building 500,000 square meters of housing to rent to low-income residents?
2. The average property price in 70 major Chinese cities was up 10.5 percent last month compared to the same period last year. What was Beijing’s?
3. Why does the Ministry of Construction blame some developers for the rising prices?
Answers:
1.2.9 billion yuan.
2.17.5 percent.
3.They say they focus on building luxury apartments for high profits, hoard land and apartments, or spread false information to create fear of housing shortages.
（英语点津 Celene 编辑）
About the broadcaster:
Bernice Chan is a foreign expert at China Daily Website. Originally from Vancouver, Canada, Bernice has written for newspapers and magazines in Hong Kong and most recently worked as a broadcaster for the Canadian Broadcasting Corporation, producing current affairs shows and documentaries.
