Beijing: China has continuously improved its housing security system, expanded and optimized its social housing stock, Shengjun Wang, Chief Economist of the Ministry of Housing and Urban-Rural Development of the People's Republic of China, said during the panel discussion titled 'Environmentally Sustainable and Resilient Human Settlements' held within the framework of WUF13, APA reports.

According to Azeri-Press News Agency, significant achievements have been made as a result. Thus, from 2008 until the end of last year, a total of 33 million affordable housing units were built, helping solve the housing problems of more than 100 million urban residents.

The report further elaborates that China applies an approach combining monetary subsidies with actual housing provision in terms of guarantee mechanisms, utilizing both rental and sales models. These methods are tailored to meet the housing needs and payment capacities of different social groups.

Shengjun Wang highlighted that many Chinese cities implement differentiated approaches such as 'one bed,' 'one room,' and 'one apartment,' catering to the varying housing needs of new urban residents and young people. The goal is to enable people to come to the city, stay there, live safely, and build their careers, ultimately reducing housing pressure on them and allowing them to freely strive for a better life.