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China will focus on renovating 39,000...>

CHINA PRESS
CHINA PRESS: China will focus on renovating 39,000 urban residential areas this
year, all of them built before the year 2000 and covering seven million
households, the Economic Information Daily reported citing Deputy Minister of
Housing and Urban-Rural Development Huang Yan. This is more than double last
year's program, which covered 3.52 million households. Huang said the large
scale of the work required a joint funding effort, comprising central government
subsidies, fiscal spending and special bond issuance by local governments, as
well as private investment. 

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