In the current year up to the end of September, construction commenced on 5.77 million affordable houses in China, equivalent to 96 percent of the annual target, as announced by China’s Ministry of Housing and Urban-Rural Development (MOHURD). In addition, in the first nine months of the year, fixed asset investment totaling RMB 1.2 trillion ($0.18 trillion) has been completed in terms of affordable housing construction in China.
In 2016, China plans to initiate construction of a total of six million affordable housing units, the ministry had announced at the beginning of the year.