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China spends more than $85.2 billion on shantytown redevelopment in January-July

Published 08/18/2019, 11:06 PM
Updated 08/18/2019, 11:11 PM
China spends more than $85.2 billion on shantytown redevelopment in January-July

BEIJING (Reuters) - China's housing ministry said on Monday investment in shantytown redevelopment projects totaled more than 600 billion yuan ($85.20 billion) in the first seven months of this year.

The ministry didn't give a year-ago figure, but said construction had begun on 2.07 million housing units in the Jan-July period, accounting for 71.6% of the full-year target of 2.89 million units.

Latest comments

Plus with all the Gold they are building up, easily can reprice it in their markets SGE to $35000. Hello!
Maybe but at least they will be rebuilt in the coming economic storms ahead. USA not so.
Ghost cities !!!!!
Construction is China's little shop of horrors. If they don't continue to feed this monster they've created, very very bad things will happen. They have no choice but to build until their wheels fall off. Tough spot to be in considering all the other problems they're facing now and going forward. Tough indeed.
China is in a great spot. They have been down, but now it is almost time that they exit bottom and start heafing up up up for a decade. US has been good, but now have reach the top, so we are not in a good spot. We should.hit recession soon and head down down down just like China in a past couple of years. Is cakled market cycle, and China is about to enter the cycle up.
Shantytown? They are brand new developments so how can they be shantytowns??
no in China even middle class cannot afford an apartment
China has 300Million middle class, it is as big as the US population. The middle class is still expanding rapidly and they like to buy expensive things. They have a lot of cash.
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