Lesson 20

s chosen by the State Council to try out the practice of selling government-built apartments to individuals as part of the country's housing reform. The aim is to recover part of the construction cost for reinvestment in housing construction.

    The city I;as built houses for sale with a total floor space of 20 million
square metres over the past decade. This has helped raise the per capita living space of urban residents in the city to 6.4 square metres, double that of a decade ago.
    This year the city has built dwellings for sale totalling 500,000 square metres. Local residents raised 100 million yuan, the government invested 25 million yuan and local enterprises provided 75 million yuan to cover the cost of construction.
    The cost of every square metre averaged 300 yuan. The buyers pay 200 yuan for each square metre and the State covers the rest.

    Many Tianjin resi.dents are saving money and waiting for their turn to purchase new houses instead of spending more money on consumer durables, such as colour TV sets, refrigerators and video-recorders, as in the past.
    Many experts, officials and local residents have called for an extension of the "tripartite cooperation" in housing construction- financing by means of individual- raised funds with the help of the government and enterprises. This is because wholesale commercialization of housing won't work yet, as only a few people can afford to buy houses.
    The housing cooperatives have turned out to be a feasible way to get over the impasse. People are more keen to.invest in their own houses and the State has less of a financial burden.

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