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Minister of Housing and Urban-Rural Construction, Jiang Weixin, has said that construction of affordable housing for middle and low-income residents lags behind commercial property development. Addressing a housing conference on Friday, he said the government will take measures to make affordable housing more available beginning next year, especially for those on low and fixed incomes.

Jiang said China plans to build 1.8 million subsidized rental apartments for the very poor, and 1.3 million units for low- and middle-income residents next year. He said that social welfare funds may be tapped to meet construction financing. He also said that investment and speculation have been the main driving forces behind this year's property development surge. Jiang added that the supply of commercial housing on the market will also be increased in the coming year.

Jiang Weixin, Minister of Housing and Urban-Rural Construction, said, "Macro control of the property market next year will be based on an increased supply of commercial housing, off-setting speculation on properties and improving supervision. The key point is to restrain the fast growth of housing prices. More small units and land will be supplied, and credit control on second homes will be more strict. Meanwhile, more effort will be taken to develop public housing for rent, as well as affordable housing, especially in cities where housing prices have been growing the fastest. Also, pilot programs will be introduced to tap social funds to build such housing."