China said it will invest more than 1 trillion yuan ($162 billion) redeveloping shantytowns this year as the government detailed how it will boost its urban population to support growth.
More than 4.75 million households will be involved, state broadcaster China Central Television reported yesterday, citing the housing ministry. China will build more transportation links, ease some residence-registration rules and let local governments directly issue bonds, according to the urbanization plan for 2014 to 2020, issued by the ruling Communist Party and State Council.
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Bonnie Cao, Bloomberg News via CHINA US Focus http://ift.tt/1guZtdR
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