Chinese School - New homes policy lauded

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Opinion / Commentary

New homes policy lauded

(China Daily)
Updated: 2007-09-19 07:22

Any attempt to seek profit through manipulating government-subsidized
low-priced housing must be watched carefully, says an article in Beijing
News. The following is an excerpt:

The municipal government of Hangzhou issued a regulation recently that
government-subsided low-priced housing can be traded after a five-year
term, but 55 percent of the profit must go to the government. Such a
policy has gained positive reaction from the public.

Undoubtedly, such a policy will help check profiting from low-priced
housing through manipulation. And it affords fairness to those who really
need low-priced housing.

The introduction of the policy in Hangzhou has sufficient legal grounds.
According to low-priced housing management regulations, issued by the
central government in 2004, regional governments can decide the specific
year a house can go on the market and the percentage of profit to be
handed in.

Many netizens think the new policy should be implemented across the
country. It shows that the national regulation issued in 2004 has not
been well implemented across the country. Such a situation deserves
redress.

Besides profiting, leasing out such housing is also a common problem.
Though the regulation says that low-priced housing cannot be leased, the
practice is seldom checked.

To a large degree, it shows the lack of examination of a buyer's
qualifications to purchase such housing. The new rule will help curb
illegal practices in the purchase and leasing of low-priced housing.

Only when the profiting channels are blocked can low-priced housing be
saved for those in need.

(China Daily 09/19/2007 page10)

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