英语文摘:Chinese Vice Premier calls for building of 10 mln affordable housing units this year

Many local governments obtain a large part of revenues from the construction of commercial apartments because a fee is charged for the release of land to developers. Subsidized housing, in contrast, is sometimes ignored because the government often has to provide the land for less money to attract the interest of developers.

The policy comes after the State Council, or China's Cabinet, introduced eight measures on Jan. 26 to curb rising housing prices.

The measures called for an increase in the supply of apartments that poor residents could afford, the introduction of rules preventing residents from buying more than a certain number of properties and the adoption of higher transaction taxes.

Sixty-eight out of 70 cities reported that the prices of local homes had risen from last year's figures, the National Bureau of Statistics reported on February 18. Ten out of the 70 cities surveyed saw prices rise by more than 10 percent, according to the bureau.

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