(China Economic Roundtable) China achieves remarkable results in improving residents' housing conditions

China has seen remarkable results in improving its residents' housing conditions since the 18th National Congress of the Communist Party of China in 2012, an official said on the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

To address the housing difficulties of the people, renovation of shanty towns, dilapidated houses, old urban residential communities and urban villages has been carried out across the country over the past years, said Pan Wei, an official with the Ministry of Housing and Urban-Rural Development.

China has built over 68 million units of affordable and resettlement housing since 2012, enabling more than 170 million people with housing difficulties to realize their dream of having a stable home. It has also renovated over 300,000 old residential communities, benefiting more than 130 million urban residents, according to Pan.

A multi-tiered housing security system has been built for various groups, such as families living on subsistence allowances, new urban residents and young people, Pan said, adding that policy support, such as tax incentives, financial loans, land planning, and central subsidies, has been provided for the renovation projects.