In the current year up to the end of October, construction commenced on 7.47 million affordable houses in China, with construction of 6.88 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 the first 10 months of the year, fixed asset investment totaling RMB 1.28 trillion ($0.20 trillion) has been completed.
In the whole of the current year, China had planned to initiate construction of a total of 7.40 million affordable housing units, of which 4.80 million units were expected to be completed, the MOHURD had announced at the beginning of this year.