In the current year up to the end of August, construction commenced on 5.98 million affordable houses in China, with construction of 5.06 million units being completed, respectively accounting for 80 percent and 105 percent of the annual targets, as announced by China’s Ministry of Housing and Urban-Rural Development (MOHURD). Accordingly, in the first eight months of the year, fixed asset investment totaling RMB 920 billion ($144.4 billion) has been completed.
In 2015, China plans to initiate construction of a total of 7.40 million affordable housing units, of which 4.80 million units are expected to be completed, the MOHURD had announced at the beginning of this year.