CHINA plans to embark on a major drive to sell its public housing stock as part of a key policy to win the support of the people and combat inflation.
In a massive scheme along similar lines to Hong Kong's Home Ownership programme, millions of people will be urged to buy their rented homes.
The government hopes to raise billions of dollars from the sales to fund new mass housing projects. More money will be saved from the reduced maintenance and management burden.
All cities are also set to be ordered to establish provident funds so tenants can buy their own homes.
The two important policies are expected to be officially announced later this year.
They are seen as key parts of the housing reform programme aimed at improving the poor living conditions of many of China's 1.2 billion population, who consider housing as the number one issue facing the authorities.
