China fulfilled its goal to begin construction of 5.8 million government-subsidized apartments in 2010,according to a story by Xinhua News Agency.
In the beginning of this year, China planned to build 5.8 million government-subsidized apartments for low-income residents and those who live in shantytowns. Under the plan, 1.2 million dilapidated homes in rural areas will also be refurbished China Business News said on Dec 8.Experts estimate the investment of China's social housing program this year totaled 800 billion yuan ($118.96 billion), compared with 18.19 billion yuan in 2008 and 55.06 billion yuan in 2009.
Though this year's task is fulfilled, tenants will still have to wait a year or two before the apartments are ready for moving in, according to China Business News.
