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Chinese vice premier stresses completion of shanty town renovation goals

Xinhua, October 10, 2015 Adjust font size:

China must make sure to complete goals on shanty town renovation this year, Chinese Vice Premier Zhang Gaoli said at a national work conference specially convened on the issue on Saturday.

Governments of different levels should be strict in responsibility-seeking and assessment to officials who are in charge of the issue, Zhang said.

"The government will demand those places failing to put capital, land and policies in place or be slow in carrying out the set plans to make rectifications within a certain time limit," said the vice premier.

Local governments should make plans for the coming three years, especially the year of 2016, and be specific about the renovation targets, schedules and deadlines, Zhang said.

Fund-raising channels for the renovations in the next two years should be promptly determined. The central government will continue to expand subsidies, local governments should actively raise funds, while financial institutions including China Development Bank and Agricultural Development Bank of China should strengthen their support.

Relevant departments should keep the funds safe and make good use of them while make sure the renovation efforts not to disturb the property market, Zhang said.

The quality of the shanty town renovation projects must be guaranteed and a lifelong accountability mechanism should be imposed in this respect, Zhang added.

China has set goals to construct 36 million affordable houses between 2011 and 2015.

Over the past four years, more than 20 million affordable houses were completed across the country, with 12 million under construction, and the assistance fund for building the houses has reached 710 billion yuan, the Ministry of Housing and Urban-rural Development data showed in May. Endi