Minister of Housing and Urban-Rural Development Ni Hong: Five policies support monetized resettlement housing, allowing local governments to issue special bonds

Minister of Housing and Urban-Rural Development Ni Hong stated at a press conference held by the State Council Information Office on October 17 that 1 million sets of urban village renovations and dilapidated house renovations will be newly implemented through monetary resettlement. This is mainly due to the consideration that some conditions are mature, the residents' desire for renovation is urgent, and the preliminary work is solid. Monetary resettlement can better meet the residents' needs to independently choose the type and location of housing without waiting for a transition period. There are two points for projects to receive policy support: first, priority selection should be given to projects where residents have a strong desire for renovation and there are prominent safety hazards; second, the project should have two mature plans: one for land acquisition and resettlement that is solid and mature, and the other for a large balance of funds to achieve overall project balance and avoid the risk of increasing local debt. The main supportive policies include: 1. Priority support for cities at and above the prefecture level; 2. Developmental and policy-oriented financial institutions providing special loans; 3. Allowing local governments to issue special bonds; 4. Providing tax incentives; 5. Commercial banks issuing loans based on evaluations