Friday 21 September 2018
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1 months ago

China ploughs $144 billion into shantytown development in seven months of 2018

BEIJING - China has invested 990 billion yuan ($143.63 billion) for a massive urban redevelopment project in the first seven months of 2018, the housing ministry said on Thursday in a statement on its website. China has injected hundreds of billions of dollars of policy loans into redevelopment of shantytowns. Analysts say the project has boosted property demand as residents are encouraged to use cash compensation to buy a new home when their existing home is demolished. Chin

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