China to boost land supply for residential houses

In 2013, China plans to raise its land supply for new homes in 70 major cities to 50,300 hectares, 1.2 times that the average level of the past five years, the Ministry of Land and Resources said in a statement on Tuesday.

Land supply nationwide rose to 1.5 times that of the average level of the last five years to 150,800 hectare, of which land for small-unit housings accounted for 79.4 percent, the statement said.

Land supply for publicly-funded housing reached 41,500 hectares.

Land for commercial property development hit 109,200 hectares, which accounted for 72.4 percent of the total land supply for homes. Land supply for small-unit commercial houses reached 78,200 hectares, or 71.6 percent of the total land supply for commercial houses.