Caixin
Jun 21, 2011 07:24 PM

CICC: Affordable Housing Projects to Drive Property Investment

(Beijing) -- Investment in the property market is set to grow in 2011, with plans being developed for affordable housing construction in the latter half of this year, said China International Capital Corporation (CICC) in a research report released on June 20.

According to the report, 930 billion yuan, equivalent to two-thirds of this year's total 1.4 trillion yuan in affordable housing funds will be deployed over the next five months, as the central government imposes a November deadline for all construction. As of late May, ground was broken for less than 35 percent of the 10 million low-income housing units.

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