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Post by bot on Feb 23, 2012 11:38:28 GMT -5
China sees first results of public-housing spree from MarketWatch.com - MarketPulse HONG KONG (MarketWatch) -- China built 4.32 million public-housing units last year, according to figures by the statistics bureau released Wednesday, offering the first tangible results of an ambitious plan unveiled in 2011 to complete 36 million subsidized apartments for low-wage workers by the end of 2015. Construction of approximately 7 million apartments is slated to get underway this year, while about 5 million are expected to be completed by year's end. However, some reports said there were doubts on the actual completion rates, as some municipalities are believed to be overstating the number of public-housing apartments they are building by relabeling some private projects already underway.
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