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Economic news

China frontloads a budget of $7.87 billion to support urban affordable housing projects

11/11/2024

Less than a minute

2024.11.11 04:26

BEIJING (Reuters) – China’s finance ministry frontloaded a budget of 56.6 billion yuan ($7.87 billion) to support urban affordable housing projects, according to state media on Monday (NASDAQ:).

© Reuters. FILE PHOTO: Sale signs adorn residential buildings under construction in Huizhou, Guangdong province, China October 10, 2024. Picture taken through a windshield. REUTERS/Nicoco Chan/File Photo

This part of 2025’s central government fiscal funds will be used for affordable housing and the renovation of urban villages, old residential quarters and shanty towns.

($1 = 7.1933 renminbi)

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11/11/2024

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