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Chinese condos going for sale to develop home ownership

Peking government departments and businesses hope to sell state-owned apartments to their employees starting in 1985. The move is part of a government plan to develop home ownership in communist China. At present, most urban Chinese workers live in state accommodation at heavily subsidized prices.

Chinese officials said earlier in December that about 350,000 families in 80 cities across the country would be able to buy subsidized, government-built apartments sometime during 1985.

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