> China offers to buy up commercial housing to boost property market / 34RN77F
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China offers to buy up commercial housing to boost property market / 34RN77F
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Description
The Chinese state could buy up commercial housing projects in a bid to boost the availability of affordable property, the country's Ministry of Housing and Urban-Rural Development says.
"City governments ... can organize local state-owned enterprises to purchase some of the existing commercial housing at reasonable prices for use as affordable housing," Dong Jianguo, vice minister of the Ministry of Housing and Urban-Rural Development says at a press conference. SOUNDBITE