Hunan: a Nationwide Example of Shantytown Renovation

　　It was learnt from the Department of Housing and Urban-Rural Development of Hunan Province on Jan. 17 that the province has completed 479.9 thousand sets of shantytowns renovation in 2016, of which 240 thousand were made in the form of monetary compensation. The annual objectives and tasks have been successfully achieved. On January 16, 2017, Hunan Province, together with Anhui, Guizhou, and Shaanxi made a speech as excellent representatives on shantytown renovation at the national television and telephone conference held on the work of shantytown renovation.

　　In 2016 the provincial financial department has continued increasing funding for shantytown renovation, with a total of 3.545 billion yuan arranged in this regard, an increase of 540 million yuan over the previous year. It has also received 17.482 billion yuan subsidies from the central special funds, allocated special construction funds of 19.887 billion yuan, and issued bonds of 19.35 billion yuan. Besides, the province has also won great supports from China Development Bank and Agricultural Development Bank of China for special loans for shantytown renovation. New application for loans amounted to 71.7 billion yuan in 2016, with a total of 45.6 billion yuan granted. In the meantime, Hunan Province has increased more efforts on monetary compensation.