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Business / Policy Watch

China vows to accelerate urban renovation

(Xinhua) Updated: 2012-12-27 09:29

BEIJING - Housing authorities on Wednesday ordered local governments to step up the renovation of run-down urban areas in a bid to improve housing conditions for urban residents.

The Ministry of Housing and Urban-Rural Development said in a circular issued to local authorities that the renovation of large run-down urban areas should be completed by the end of 2015.

The circular said renovation projects should be based on local conditions and include diversified measures, including tearing down and rebuilding structures, expanding existing structures or renovating them.

The ministry urged local housing authorities to make efforts with other departments to thoroughly investigate run-down areas in order to carry out the renovations in an orderly way.

The renovations will be a crucial part of the country's efforts to provide low-income urban residents with affordable housing, such as government-subsidized low-rent housing and public rental housing.

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