综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Opinion

Affordable housing strains local govts' coffers

By Li Chang'an (China Daily)
Updated: 2011-01-14 09:45
Large Medium Small

The central government's ambition of building more government-subsidized apartments nationwide this year will truly test local governments' finances.

The country plans to build 10 million subsidized apartments in 2011, almost twice as many as last year's target of 5.8 million.

Affordable housing strains local govts' coffers

The total investment by all levels of government will increase to 1.4 trillion yuan ($212 billion), or 20 percent of the country's total annual real estate investment.

But it will be a great financial burden for local governments, which will likely fail to meet the target because of a lack of funds.

The central government invested 80.2 billion yuan in subsidized apartments last year, Ministry of Housing and Urban-Rural Development figures showed.

The central government will likely increase its investment to 100 billion yuan this year. Another 100 billion will come from the Housing Provident Fund, a compulsory social security program requiring all employees to make long-term deposits since 1994.

But local governments will still need to raise the remaining 1.2 trillion yuan.

This will prove challenging, as most local governments have been in dire financial straits for years.

The debts of local governments of 18 provinces totaled 2.8 trillion yuan in 2009, National Audit Office figures showed.

Related readings:
Affordable housing strains local govts' coffers Banks urged to lend more for affordable housing projects
Affordable housing strains local govts' coffers Big push to unlock affordable housing
Affordable housing strains local govts' coffers Wen vows to tame housing
Affordable housing strains local govts' coffers Govt reveals new-year pledge on housing prices

Some county governments' one-year interest payments on their debts equal about a third of their annual fiscal revenues. Their ability to repay debts is concerning.

The central government's push to construct subsidized housing will also significantly reduce local governments' incomes, as such housing is not profitable.

In 2009, the country generated a total of 1.42 trillion yuan from land leases. The income accounted for a stunning 50 to 60 percent of some cities' total revenues.

Practically no city has reached affordable housing construction targets in the past seven years.

That includes the wealthier metropolises, such as Beijing, Shanghai, Zhejiang's provincial capital Hangzhou and Hubei's provincial capital Wuhan.

The central government must step up its financial support of local governments and more private funds should be sought.

The author is a senior research fellow specializing in public policy at the University of International Business and Economics.

赣州市| 华容县| 永修县| 江阴市| 简阳市| 宁海县| 怀仁县| 休宁县| 西乌珠穆沁旗| 宜春市| 澄城县| 濮阳市| 鄯善县| 泗阳县| 吐鲁番市| 中阳县| 龙陵县| 博兴县| 沙雅县| 松桃| 南皮县| 青阳县| 饶河县| 邵东县| 阳新县| 松江区| 彰化县| 华宁县| 邵武市| 台东县| 怀宁县| 绥阳县| 呼伦贝尔市| 凭祥市| 灵台县| 正宁县| 浦江县| 赣州市| 安康市| 枣强县| 定日县|