国内英语新闻:Chinese vice premier urges implementation of affordable housing construction plan

Additionally, the governments in cities with large numbers of low-income families should speed up construction of low-rent housing, and those in mining, forestry, and farming areas should build more resettlement housing for relocated residents, he said.

He called on local government to bear major responsibility for affordable housing construction, diversify fund raising channels to obtain more investment, arrange for sufficient land supplies, and ensure transparency and fairness in the distribution of affordable housing.

He reaffirmed the policy that regulates the housing market and resolutely cracks down on speculative property investment and other unreasonable market demands.

In the face of skyrocketing housing prices, the Chinese government has ordered a stringent credit policy to restrict speculative purchases and has increased spending to build affordable housing.

Housing prices in major Chinese cities rose 10.3 percent year-on-year in July, slower than the 11.4 percent growth in June, according to the National Bureau of Statistics.