BEIJING, April 26 China aims to start building
more than 7 million units of public housing this year, the
Ministry of Housing and Urban-Rural Development said on
Saturday, signalling the latest government move to counter high
The government intends to finish building 4.8 million units
this year, the ministry said on its website.
Large-scale construction of public homes in China not only
supports growth in the world's second-largest economy, it also
helps to quell discontent over rising house prices.
Yet some have in the past criticised China's public homes -
also known as affordable housing - as being ineffective because
they say good apartments are set aside for officials, leaving
poorly built ones for the public.
The government has spent more than four years trying to tame
record home prices on concerns that they were stoking an asset
bubble and some see the efforts bearing fruit.
China's home price inflation slowed to an eight-month low in
Average new home prices in China's 70 major cities rose 7.7
percent in March from a year earlier, easing from the previous
month's 8.7 percent rise, according to Reuters calculations
based on data released by the National Bureau of Statistics
(NBS) last week.
(Reporting by Sui-Lee Wee; Editing by Stephen Powell)