Chinese Housing
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The living area of Chinese residents is extended. In Chinese cities and towns, the per-capita housing increases from 8.5 square meters in 1996 to 9.8 square meters in 1999, and in the rural areas, the per-capita housing increases from 21.7 square meters in 1996 to 24.2 square meters in 1999.
China's housing estates advances rapidly. According to the construction ministry's statistics, China's housing estates investment has increased by about 20 pecent successively for the past two years, and continuously contributes more to economic growth. In the past two years, the housing construction pushes forward GDP by 1.5 to 2 percent. Following the speeding up of the progress of China's urbanization construction and the penetration of reform of the urban housing system, housing construction will play a more obvious role in pushing forward economic growth and promoting the adjustment of industrial structure. With the improvement of the system of housing public fund and the establishment of the system of housing subsidy, the standardization of the housing price, and further development of house finance, individual house-purchasing ability of China’s urban residents will be obviously improved.
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