Bigger housing budget

The 2008 budget draft that the Chinese government drew up under a prudent fiscal policy shows that more funds will be put in the right places.

With the overall government expenditure projected to grow by 22.6 percent this year, an increase of 45.1 percent, 25.2 percent and 24.2 percent respectively in the central government's allocations for education, health care and social security, shows the authorities' commitment to better social welfare for the public.

A one-third rise in the central budget for low-rent housing is certainly above the average expenditure growth. But it is still far from enough to deal with the enormous housing problem.