Shanghai to increase supply of affordable housing after home price rises

Sun Oct 27, 2013 6:16am EDT
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SHANGHAI (Reuters) - Shanghai will increase the supply of affordable housing following home price rises in September, Vice Mayor Yang Xiong said on Sunday.

Yang also told a press conference in Shanghai that the city would crack down on illegal activities in the real estate market, without giving details.

(Reporting by Pete Sweeney; Writing by Samuel Shen; Editing by Jeremy Laurence)

A general view of Shanghai's financial district of Pudong is seen from the top of the Shanghai Tower, which is undergoing construction, August 2, 2013. REUTERS/Carlos Barria