In 2015, construction commenced on 7.83 million affordable houses in China, with construction of 7.72 million units being completed, with both figures exceeding the annual targets, as announced by China’s Ministry of Housing and Urban-Rural Development (MOHURD). Accordingly, in 2015 fixed asset investment totaling RMB 1.54 trillion ($0.23 trillion) in construction of affordable housing has been completed.
In 2015, China had planned to initiate construction of a total of 7.40 million affordable housing units, with construction of 4.80 million units expected to be completed, the MOHURD had announced at the beginning of the year.