(Yicai Global) Sept. 8 -- Beijing's municipal government plans to introduce a new policy to punish those illegally subleasing affordable housing in the city, said online news outlet Fawan. Authorities plan to implement restrictions on illegal subletting for all types of affordable housing within 10 years.
The Chinese capital has launched a total of 93 such housing projects to date, comprising 85,000 units. Some 63 projects and 62,000 units have been sold.
Affordable housing refers to housing with limited standards, prices or rent set that the government provides for low-income families. This type of housing is different from commercial housing, in which selling prices are completely determined by the market.
Illegal subleasing of affordable housing is contrary to its intended purpose.
Beijing previously introduced facial recognition access system inside affordable housing communities to act as an early warning sign for illegal sub-letters.
The city's government hopes that the new policy will effectively restrict these illegal activities.