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Chinese local goverments slashed 2019 spending target for shantytown redevelopment

A number of Chinese local governments have slashed the target for shantytown redevelopment in 2019, according to plans released by local governments recently after annual meetings of provincial lawmakers.

Shantytown redevelopment – a broad term used in China for many urban rebuilding projects – is a major driver of property investment in most third- and fourth-tier cities. It has also helped push up housing prices in recent years, as residents displaced by the process used monetary compensation offered the government to buy new homes.

Shanxi province cut the target to 32,699 units fron 125,200 units last year and Henan . . .

 

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