How much has China invested in urban redevelopment this year?

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China Invests Billions in Urban Redevelopment Projects in 2018

China has invested approximately 990 billion yuan (around RM 589 billion) in its extensive urban redevelopment projects during the first seven months of 2018. This significant financial commitment is part of a broader initiative that has seen China's central bank channel substantial funds into shantytown redevelopment projects (SRPs) via the Pledged Supplementary Lending (PSL) programme.
Investment Figures for 2018

The total investment for the initial seven months of 2018 reached 990 billion yuan, with an additional figure of US$144 billion also reported for shantytown redevelopment spending within the same period. This year's efforts aim to initiate construction on a further 5.8 million homes, following a record-breaking year in 2017.
Scale of Previous Redevelopment Efforts

In 2017, China allocated a substantial 1.84 trillion yuan, equivalent to US$278.21 billion, towards these redevelopment initiatives. This massive investment led to the commencement of new construction on over six million homes during that year, highlighting the scale of the national undertaking.
Progress in New Home Construction

As of the first seven months of 2018, construction work had begun on 4.07 million homes as part of the ongoing redevelopment efforts. This progress aligns with the government's target to initiate building on another 5.8 million homes throughout the course of 2018.

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How much has China invested in urban redevelopment this year?

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