China Economic Times June 19, 2013

China's housing market has achieved rapid development since 1998 when its housing system reform was instigated. Since then, a housing security system with Chinese characteristics has been established and is gradually taking shape. Starting with the 12th Five-Year Plan, large-scale and clustered security houses have started being constructed, including low-rent houses, capped-price houses, public rental houses and rent subsidies, all of which reflects the development of the housing system.