China's first regulation on low-price houses for middle and low-income families took on effect Thursday.
The nation started to build low-price houses especially for the middle and low-income families in 1998 when the country launched its large-scale housing reform. With years of efforts, low-price houses have been proved to be an effective way for middle and low-income families to get their houses.
Statistics from the Ministry of Construction show that by the year 2003, low-price houses of 477 million square meters have been sold to over six million middle and low-income families.
The new regulation stipulates the standard for the building and selling of low-price houses to ensure that they meet the needs of middle and low-income families.
According to the regulation, the Chinese government will give more support in the future to build more low-price houses for the middle and low-income families.
(Xinhua News Agency May 14, 2004)
