Biz News Flash

VP stresses redevelopment of run-down area

(Xinhua)
Updated: 2011-06-17 09:26

BEIJING -- Vice premier Li Keqiang Thursday called for more efforts to redevelop the country's run-down areas.

During an inspection tour to a run-down area in Beijing, Li said pushing forward programs of redeveloping such areas and building other affordable housing projects would help raise people's living standards, expand consumption and improve the image of cities.

Related readings:  China vows to improve people's lives in Xinjiang  China to establish a flexible minimum living standard system  Warmer, lower-cost housing for poor people is the solution  Quality of living outweighs GDP growth: Experts

The programs would also serve as a major macro-economic regulation measure which is conducive to the healthy development of the real estate sector, steady and relatively fast economic growth and industrial restructuring, said Li.

More than 3 million families who used to live in run-down areas have moved to new apartments, while another 11 million families are still living in such areas, Li said.

Among the 10 million affordable housing units planned to be under construction this year, 4 million will be built for families who live in run-down areas, he said.

As redeveloping the run-down areas concerns the vital interests of the people, the projects must be started on time and their quality must be ensured, said Li.

The whole process of distributing new homes to people who used to live in run-down areas must be open, fair and equitable, and subject to monitoring by the people and media.