China urges expanded financing for affordable housing

 　　BEIJING, Feb. 20 (Xinhua) -- China is encouraging local governments to make full use of their financing vehicles in 2012 in an effort to boost financial support for low-income housing projects, the country's top economic planner said Monday.

　　The central government has scaled up financial support for low-income housing in 2012, and local governments should follow suit, the National Development and Reform Commission (NDRC) said on its website.

　　Local governments should make extensive use of their financing vehicles to raise money via both direct and indirect channels, spurring the social capital to invest in low-income housing projects, the NDRC said.

　　This year is the second year of the government's low-income housing program for the 12th Five Year Plan (2011-2015) and will see the greatest amount of units built, the NDRC said.

　　The number of low-income housing under construction will reach 18 million units this year, with 5 million expected to be finished, according to the Ministry¹ of Housing and Urban-Rural Development.

　　China has vowed² to build 36 million affordable³ housing units during the 2011-2015 period in a bid to meet the demand of low income families, as well as take some heat out of the runaway⁴ property market. In 2011, it started construction of 10 million units.

　　Earlier this month, the Ministry of Finance also said the central and local governments' financial support for affordable housing will be greater than 2011.

　　Revenue from local government bond sales in 2012 will be prioritized to support low-income housing projects, while revenue from property taxes, now being implemented⁵ on a trial basis in the cities of Shanghai and Chongqing, will be earmarked for the initiative, the ministry said.

　　In January, none of the 70 major cities monitored by the National Bureau of Statistics reported an increase in new home prices, with 48 cities experiencing drops from a month earlier.

1 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

2 vowed   

起誓，发誓（vow的过去式与过去分词形式）

参考例句：

• He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
• I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。

3 affordable   

adj.支付得起的，不太昂贵的

参考例句：

• The rent for the four-roomed house is affordable.四居室房屋的房租付得起。
• There are few affordable apartments in big cities.在大城市中没有几所公寓是便宜的。

4 runaway   

n.逃走的人，逃亡，亡命者；adj.逃亡的，逃走的

参考例句：

• The police have not found the runaway to date.警察迄今没抓到逃犯。
• He was praised for bringing up the runaway horse.他勒住了脱缰之马受到了表扬。

5 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句