Ministry of Finance supports the construction of affordable housing to attract social forces operate affordable housing
Assistant of Ministry of Finance Wang Baoan recently in an interview said that the financial sector will take five measures to ensure that 2011 there will be new public housing nationwide and other affordable housing 10 million sets. According to projections, the need to complete the target cost more than 1.3 trillion yuan of construction funds.
Assistant of Finance Ministry Wang Baoan said, to ensure the completion of construction tasks, the financial sector will increase the budget for the construction of affordable housing projects to ensure that the Housing Provident Fund net income and net income from provisions of land use are used in affordable housing projects. The central government will further increase subsidies for local governments. The provincial government will also increase investment, tilt to cities and counties in financial difficulties.
Wang Baoan pointed out that the construction of affordable housing funding needs huge financial investment. Relying on the government alone, it is difficult to ensure the sustainability of affordable housing projects. It needs to take financial discount, the government capital injection, tax incentives and other measures to attract social forces to participate in the construction of affordable housing projects and operations.
In addition, the financial sector will implement preferential policies for tax relief. Throughout the year in ensuring the completion of the task of affording housing, one can use the Housing Provident Fund net income and net income from provisions of land use to affordable housing projects. At the same time, with the approval of the finance department, will also use the central low-rent housing allowances and funds for the development of public rental housing.
[Five measures ]- Efforts to raise funds for affordable housing projects
- Fiscal policy and operational mechanism innovation
- Continue to implement preferential policies for tax relief
- Co-ordinate arrangements for funding affordable housing projects
- Strengthen the use of funds and project management, improve capital efficiency
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