China: 63.2B yuan to curb speculative housing market
The Chinese government will subsidize 63.2 billion yuan - 8.1 billion yuan more than last year - to build 3 million economically affordable houses and rebuild 280 million houses in 2010, according to the government report delivered by Premier Wen this morning.
The move is aimed at curbing China’s soaring housing prices.
The government will resolutely curb [...]