Caixin
Jul 01, 2018 07:25 PM
FINANCE

Slum Redevelopment Draws Debate Over Government Debt, Housing Prices

A shantytown undergoes redevelopment in Huai'an, Jiangsu province. Photo: VCG
A shantytown undergoes redevelopment in Huai'an, Jiangsu province. Photo: VCG

Reports last week that the China Development Bank (CDB) had halted funding for new shantytown redevelopment projects across the country have highlighted the unintended problems the national slum-clearing effort has caused in recent years.

The government policy lender later denied that it had cut off support for local government shantytown redevelopment. Sources at the bank said some local governments had been forced to halt renovations of slum housing because of central government limits on local debt.

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