It
is now common for salaried people to buy homes through bank loans.
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Real
Estate
In recent years, the real estate
business has developed rapidly. All localities throughout the country
have worked out policies and measures for the reform of the urban
housing system to promote commercialization of housing, the use
of land with compensation and the comprehensive development of the
real estate business. The main policies are: (1) To actively promote
the reform of the real estate investment system??replacing the single
mode of investment by the state with diversified investments by
the state, localities, enterprises and individuals; (2) to promote the
construction of economic and suitable housing and construct
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| ordinary housing according to
the housing construction standards specified by the state while the
government offers policy-related support by selling housing to the
families with medium and low incomes at the cost price; and (3) to
establish a housing accumulation fund system for urban residents,
while raising the rents for publicly-owned housing, selling the existing
publicly-owned housing at the cost price, developing housing finance,
etc. To help individuals
buy housing, most cities have readjusted the loan direction for housing
accumulation funds to help residents to buy their own homes. Now China
has more than 20,000 real estate development companies. |
