China fulfilled its target for the government-subsidized residential housing program for 2012, with the construction of 6.01 million units of affordable housing completed and the construction of 7.81 million units started during the year, the Ministry of Finance (MOF) said Wednesday.
The country originally planned to start construction of 7 million units in 2012.
China provided 380 billion yuan ($61 billion) in funding for the affordable housing program last year, up 13.7 percent from 2011, the MOF said.
China plans to start building around 6 million units of government-subsidized housing in 2013, lower than the targets set for 2012 and 2011, according to the Ministry of Housing and Urban-Rural Development.
Some local governments have said there will be obstacles to realizing the central government's goal, such as difficulty in securing financing and a lack of related facilities.
"Construction of some affordable houses has been finished, but residents cannot move in due to a lack of facilities such as electricity and roads," the Liaoning Province housing watchdog said last month.
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