China frontloads a budget of $7.87 bln to support urban affordable housing projects

BEIJING, Nov 11 (Reuters) - China's finance ministry frontloaded a budget of 56.6 billion yuan ($7.87 billion) to support urban affordable housing projects, according to state media on Monday.

This part of 2025's central government fiscal funds will be used for affordable housing and the renovation of urban villages, old residential quarters and shanty towns.

($1 = 7.1933 Chinese yuan renminbi)