If you build it, they will come, Shanghai companies told

SHANGHAI: Authorities are encouraging businesses to build affordable properties as a way of attracting and retaining professionals in the city.

Against the backdrop of rising house prices, the new policy encourages local businesses to build low-cost residential properties.

Shanghai Party Chief Yu Zhengsheng told the annual session of the Shanghai Municipal Committee of the Chinese People's Political Consultative Conference that the city had solutions to its housing problems, including the construction of government-subsidized housing.