Fund reserves to build new homes for poorer families

A cash reserve that has been boosted by the lull of China's housing market will go toward affordable new homes for low-income families, it was revealed this week.

The Housing Provident Fund, which is contributed to by employers and their staff in return for cut-rate mortgages, had 1.21 trillion yuan ($180 billion) left over at the end of last year.

And to make effective use of the money, the Ministry of Housing and Urban-Rural Development has proposed a trial plan to build houses for poorer citizens across China.