The Politics of Expertise in China by Xufeng Zhu

Author:Xufeng Zhu [Zhu, Xufeng]
Language: eng
Format: epub, pdf
ISBN: 9781138651869
Barnesnoble:
Goodreads: 40684941
Publisher: Routledge
Published: 2018-10-15T00:00:00+00:00

Problems during the implementation of the affordable housing policy

Affordable housing is a special kind of commodity housing with the dual attributes of policy security and commodity trading. First, different from low-rent housing, affordable housing is ‘not for lease but for sale’, taking on the same property right attribute as commodity housing, that is, buyers have the right to possess the entire property (as stipulated by the initial policy plan). Yet, pricing for affordable housing is strictly controlled by administrative measures, which cannot be determined by the market in the same way as commodity housing. Furthermore, buyers of the affordable housing were prohibited from making the houses available in the market within five years.

Table 4.1 Evolution of the affordable urban housing policy

Date Policy document Ministry Important content

3 July 1998 Notice on Further Deepening the Reform of the Urban Housing System and the Acceleration of Housing Construction State Council Ceased the physical distribution of housing, actualised the monetisation-based distribution, defined the systems of commodity housing, affordable housing, low-rent housing and affordable housing as the main component of housing supply

17 November 2002 Administrative Measures on the Price of Affordable Housing State Planning Commission and Ministry of Construction The benchmarked price of affordable housing consisted of development cost, tax and profit, where the development profit did not exceed 3 per cent

12 September 2003 Notification on Promoting the Sustainable and Healthy Development of the Real Estate Market State Council Changed the content of affordable housing from being the ‘main part of the housing supply’ into ‘policy-based commodity housing with the nature of social security’, specified the status of commodity housing as the main component of market supply

13 April 2004 Administrative Measures for the Affordable Housing Ministry of Construction, Development and Reform Commission, Ministry of Land and Resources and People’s Bank Detailed the provisions for the affordable housing system in light of the definition of affordable housing policy as ‘policy-based commodity housing with the nature of social security’

7 August 2007 Several Opinions of the State Council on Addressing the Housing Problem of Urban Low-income Households State Council Further established and improved the urban low-rent housing system; improved and standardised the affordable housing system aimed at low-income families living in urban areas

19 November 2007 New Administrative Measures for the Affordable Housing Ministry of Construction, National Development and Reform Commission, Ministry of Supervision, Ministry of Finance, Ministry of Land and Resources, People’s Bank of China and State Administration of Taxation Affordable housing was no longer the enforced task of local governments

12 November 2008 Notification of General Office of the State Council on the Promotion of the Sustainable and Healthy Development of the Real Estate Market State Council On 9 November, the executive meeting of the State Council launched plans to invest 4,000 billion RMB, where 900 billion RMB was allocated for indemnificatory housing;

On 17 December, the State Council held the executive meeting to study and deploy policy measures to promote the healthy development of the real estate market and decided to strengthen the construction of indemnificatory housing;

On 20 December, the SOD[2008] No.

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