China’s Ministry of Housing and Urban-Rural Development has selected six cities for a trial scheme that allows home-buyers to own their properties jointly with the government, 21st Century Business Herald reported Thursday, citing an unnamed ministry official. The cities are Beijing, Shanghai, Shenzhen, Chengdu, Huangshi and Huaian. Under the scheme, a home-buyer only needs to pay a certain portion of the home price with the rest to be paid by the government. That will allow more people to buy homes, the report noted.
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