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Housing Authority revised this year's surplus of about 13.4 billion yuan to wait and see whether the epidemic development study will continue to implement relief measures

2021-01-08T04:40:38.546Z


The Housing Authority’s Finance Subcommittee today (8th) reviewed this year’s budget and the financial situation in the next four years. According to the latest financial forecast of the Housing Authority, the fiscal reserves of the Housing Authority will be about 55.9 billion yuan from the beginning of April 2020.


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Written by: Zhang Jiamin

2021-01-08 12:25

Last update date: 2021-01-08 12:25

The Housing Authority’s Finance Subcommittee today (8th) reviewed this year’s budget and the financial situation in the next four years.

According to the Housing Authority’s latest financial forecast, the Housing Authority’s fiscal reserves will fall from approximately 55.9 billion yuan at the beginning of April 2020 to 49.9 billion yuan at the end of March 2025.

According to the Housing Authority, the current preliminary budget only counts the Housing Authority. From 2021/21 to 2024/25, it will build 100,000 public housing units, and it is estimated that the construction cost of the five years will remain at 115.7 billion yuan; Over the five-year period, as the supply of public housing increases, the cost may rise sharply.

The Chairman of the Finance Subcommittee, Chen Jiale, stated that the Housing Authority's financial position will remain stable in the next five years, and there is no need to use the "former housing reserve" reserved for the construction of public housing.

In response to the epidemic, the Housing Authority exempted rent last year. Chen said that the relevant arrangements have been reflected in this budget and the measures have little impact on the Housing Authority’s finances.

He also said that the Housing Authority will review whether it will provide rent concessions in response to the development of the epidemic.

There is still a surplus this and next

The consolidated account surplus for 2020/21 is 13.37 billion yuan, and the forecast surplus for 2021/22 is 8.02 billion yuan.

Chen Jiale explained that the number of HOS flats sold varies from year to year.

He said that the Housing Authority's current financial situation is sound, and there is no need to spend about 84 billion yuan to set aside a "former housing reserve" for the construction of public housing.

Chen continued that since the next five-year period, from 2026/27 to 2030/31, there will be more housing construction than the current one. The construction cost will be higher than the current forecast of 115.7 billion yuan in the next five years. Expenses are affected by various factors and there is no firm forecast.

In response to the epidemic, the Housing Authority offered rent-free to public housing tenants last year and September this year.

He said that the expenditure on the arrangement has been reflected in this year's budget, describing it as having little impact on the Housing Authority's finances.

He said that the Housing Authority will review whether it will provide rent reduction measures in light of the development of the epidemic and the actual environment; and the relief measures for commercial buildings will be reviewed in March.

However, he said that the continued epidemic will have an impact on the Housing Authority, and he hopes that the epidemic will end soon.

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Housing Authority

Source: hk1

All news articles on 2021-01-08

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