Ministry aims to increase affordable housing supply

On Thursday, Minister of Housing and Urban-Rural Development Ni Hong announced plans to increase the affordable housing supply for including young people and newcomers, as the nation works to relax rules on home buying.

At a conference held by the State Council Information Office in Beijing, Ni pledged more measures to support the needs of such families, particularly those with multiple children, by increasing the affordable housing space allocated to such applicant families.

He said local efforts to fine-tune real estate policies shall not jeopardize the housing needs of lower-income families.

Local governments should optimize and enhance real estate policies while simultaneously bolstering the construction of affordable housing, he said.

By the end of this year, the ministry aims to provide affordable housing for 4.5 million young individuals and new residents, he said.