China's State-owned assets watchdog has asked 21 centrally-administered State-owned enterprises (SOEs) to invest more in government-subsidized homes for low-income people, the 21st Century Business Herald reported Thursday.
According to a document released by the State-owned Assets Supervision and Administration Commission on May 3, 16 central SOEs whose main business is real estate development will build the affordable homes together with five other central SOEs which are allowed to retain their property business with certain restrictions, the newspaper said.
The newspaper said the SOEs are worried because government-subsidized housing projects are not profitable. They hope the government will release favorable policies to promote the investments.
