Not well designed to meet its policy targets, the current
low-price housing system should be revised, says a signed article
in China Youth Daily. An excerpt follows:
Mao Yushi, a renowned Chinese economist, criticized the
country's low-price housing system saying that the State has
subsidized low-price housing which only accommodated better-off
families since low-income earners could not afford these
houses.
The low-price housing system has been in operation for nearly a
decade, but few of those living in such houses are from the
low-income group the government wanted to take care of.
But the low-price housing system is never revised despite public
doubts and academic criticism.
The current low-price housing system also leaves room for
officials who want to manipulate the system for their own benefits.
There was a report that a city built a "low-price housing
community" specially for local officials.
The public still has high hopes for the low-price housing
system. Most people believe the advantages of the system outweigh
the disadvantages.
As housing prices keep climbing, it is only natural for people
to welcome low-price housing without noticing that the system can
nurture corruption and hurt the public interest.
But such facts should not be ignored by the decision makers and
a timely improvement is needed.
(China Daily January 17, 2007)