The Shenzhen municipal government will subsidize property
management in housing communities built before November 1994, local
Chinese-language newspapers reported Thursday.
A number of old communities in Shenzhen, especially the ones
that were part of villages before urbanization, now face many
problems like deteriorating environment and lack of public
facilities, the municipal government said in a notice.
The notice requires all districts to establish a fund to
subsidize the enterprises that take over the property management of
old communities.
In the past, property management firms have been reluctant to
oversee old communities, as they always suffered losses.
The firms will have 60 percent of their losses subsidized by the
government in the first year, 30 percent of the losses subsidized
in the second year and 10 percent in the third year, the notice
says.
The municipal government has asked the construction department
to check for dangerous buildings, and the urban management
department to provide greenery. Other departments such as
firefighting, water resources, post, telecommunication, and gas
have also been asked to participate in the renovation of old
communities.
(Shenzhen Daily April 7, 2006)
