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Low-price House Benefits Ordinary Families

China has built low-price houses totaling 477 million square meters from 1998 to 2003, solving the living problems for six million middle and low-income families, statistics from Ministry of Construction (MOC) showed.

China started to build low-price houses specially for the middle and low-income families in 1998 when the country launched its large-scale housing reform.

The low-price houses have proven an effective way for middle and low-income families to buy houses, which also eased the problems of resettlement caused by the ongoing reconstruction in cities.

The large amount of low-price houses has optimized the structure of the housing market and balanced the price of commercial houses, said an official of the MOC.

The Chinese government will give more support in the future to building more low-price houses for the middle and low-income families, which should be the major form of China's housing system, according to the ministry.

China's first regulation on low-price houses for middle and low-income families took effect this May, which stipulates the standard for the building and selling of low-price houses to ensure that they meet the needs of middle and low-income families.

(Xinhua News Agency May 30, 2004)

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