China will require local governments....>

CHINA PRESS: China will require local governments to balance cash handouts with

building houses through shantytown renovation projects, which boosts property

investment growth, the official People's Daily said Monday. 

  - In the first half of 2018, China finished rebuilding 3.63 million urban

slums -- 62.5% of the target to rebuild 5.8 million urban slums this year, the

newspaper said;

  - The State Council plans to advance the renewals of another 15 million houses

from 2018 to 2020, the report said; 

  - The country's property regulator requires local governments to give cash,

where the local property market has excess property inventory, and also requires

them to rebuild houses where the property market is already hot and housing

prices are rising, the newspaper said.