China Pushes Local Governments to Turn Excess Housing into Affordable Homes

China's housing ministry has urged local governments to acquire completed housing stock for affordable housing. Local administrations must assess the demand for affordable homes and the current supply to ensure suitable housing is acquired.

China's housing ministry on Thursday called on local governments to vigorously, orderly and effectively acquire completed housing stock to offer as affordable housing, state television CCTV reported.

Local governments need to examine the demand for affordable housing and the number of existing homes and to ensure they acquire appropriate housing, CCTV reported.