Nanjing will spend $4b in residential areas
According to a government spokesman, before the end of the year 2010, Nanjing will spend another 30 billion yuan ($4.4 billion) in the 3 million sq m of residential areas which need innovation.
The spokesman for the Nanjing real estate administrative bureau, Huang Chang’an, said that the low-rent housing system will get an additional 1.08 billion yuan and that 6 million sq m of affordable apartments will be built before the end of 2010.
The measures were announced after Nanjing won the top UN Habitat award at the ongoing World Urban Forum in the city. It is expected to renovate the Qinhuai River and settlements along it.
Huang said that although the real estate market is influenced by the impact of the global financial crisis, the government will try their best to ensure the investment in building affordable housing and renovation old and poor residential areas not falling.
Since 2002, Nanjing has promised to renovate the Qinhuai River, a waterway of enchanting scenery and great cultural heritage but seriously polluted by factories and squatter settlements since the 1980s, he added.
It has cost billions for the local government to do much with the river’s cleaning, many families’ and factories’ relocation to return a pleasant living environment. Nanjing is really a good place to settle down to live and to do business. That’s why a lot of companies choose Nanjing to be their head office. BPOVIA is one of them. And the fact has proved the choice is right.
Base on the talk of Qi Ji, vice-minister of construction, the government had renovated about 50 million sq m of squatter settlements and improved living conditions for nearly 1 million families in the past few years.
Anna Tibaijuka, vice-secretary of the UN, also the executive director with the UN Habitat, said that as large rural populations have migrated to increasingly crowded cities seeking for better living conditions, squatter settlements have become a worldwide problem. China is “doing rather well in tackling the slum problem” by introducing many effective policies such as the provision of affordable housing and giving people housing subsidies, she said.
She added that leadership and policies play a very important role in ensuring equality, so it is wrong to rely on market forces completely.
Are you interested in the business opportunities in China?
China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.
BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.
Please visit http://www.BPOVIA.com/ for details about our service.
Popularity: 7%