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ECONOMY
THIS WEEK> THIS WEEK NO. 1, 2014> ECONOMY
UPDATED: December 30, 2013 NO. 1 JANUARY 2, 2014
Economy
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NEW YEAR, NEW MONEY: Pictured is the one yuan coin issued to celebrate coming year of the horse by the People's Bank of China, the country's central bank (WU DAQING)

Affordable Housing

China will continue to build millions of affordable housing units and stick to the current control measures on its property sector in 2014, a senior official said on December 24, 2013.

The country plans to start construction of more than 6 million affordable housing units and complete the construction of 4.8 million units in 2014, Jiang Weixin, Minister of Housing and Urban-Rural Development, said at a national work conference.

The country has built 4.7 million affordable housing units and started construction of 6.3 million more in 2013.

Jiang said China will increase the supply of land and affordable housing and ensure better implementation of current policies to contain the soaring housing prices in some major cities.

Jiang's statement came after the latest official data showed all but one of 70 major cities monitored by the government reported gains in new home prices in November. Twenty-six cities posted an annual increase of 10 percent or higher.

Land-Use Rights

China will push forward the issuing of land-use certificates in rural areas with hopes to complete the work within five years, Minister of Agriculture Han Changfu said at a national meeting on agriculture on December 25.

The registration of rural land-use rights has been under the spotlight after a key reform meeting in November decided to gradually allow farmers to transfer and mortgage their land-use rights, or turn the rights into shares in large-scale farming entities.

China started the pilot registration program in 2008, which expanded to 50 counties by 2012 and a further 100 in 2013.

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