China's housing landscape has undergone a dramatic transformation during the 14th Five-Year Plan period (2021-2025), with over 5 billion square meters of new commercial residential space sold nationwide. Housing and Urban-Rural Development Minister Ni Hong revealed these figures at a Saturday press conference, highlighting progress in both quality and accessibility.
Building a Foundation for Better Living
The government's ambitious housing initiatives have delivered 11 million subsidized units through urban village redevelopment and old neighborhood renovations. These projects have directly improved living conditions for more than 30 million residents, while nationwide infrastructure upgrades transformed 840,000 kilometers of underground utility networks.
Construction Industry Milestones
China's construction sector reached record output of 32.7 trillion yuan ($4.6 trillion) in 2024, with modernization efforts showcased in projects like the Beijing Winter Olympic venues. The growing second-hand housing market now outpaces new home sales in 15 provincial regions, signaling market maturity.
Renovation Projects Reach Millions
Over 240,000 aging residential compounds received facelifts during the Five-Year Plan, benefiting 110 million people. Upgrades included 129,000 new elevators, 3.4 million parking spaces, and 64,000 community facilities for elderly and childcare services. 'We're committed to creating smart, eco-friendly homes that meet evolving needs,' Minister Ni stated.
Urban governance reforms have introduced innovative 'city health check' mechanisms and enhanced maintenance systems, creating a blueprint for sustainable urban development. These changes come as China prepares for its next phase of housing policy innovation.
