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

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

ECONOMIC NEWS

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



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.

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