China vice premier seeks to ensure supply of low-cost homes

Chinese Vice Premier He Lifeng on Monday called for putting the country's affordable housing under "strict closed management" and prohibiting it from being listed for trading, in a bid to help shore up the long-term supply of low-cost homes. Beijing has been taking steps to increase the supply of affordable housing in recent years as high housing costs in major cities shut out many young buyers. The planning and construction of affordable housing help alleviate housing difficulties in big cities and boost investment and consumption, Vice Premier He told a conference in Beijing.