Beijing, April 30 (IANS) China has allocated 33.7 billion yuan (about $5.19 billion) more in subsidies to fund public housing projects, a media report said.
The subsidies will be used to support construction of low-rent and public rental housing projects, as well as other related infrastructure projects, China Daily reported citing the finance ministry Friday.
The ministry has earmarked 43.7 billion yuan for low-cost housing projects in 2011. It plans to build 10 million such houses this year in a bid to cool its property market.
