China tackles housing glut to arrest growth slowdown

``Starting next year, China will roll out policy to transform 100 million farmers into registered urban residents, according to Xu Shaoshi, head of the National Development and Reform Commission, on Tuesday. No deadline for completion was specified. Ni Pengfei, a researcher at the Chinese Academy of Social Sciences, estimated that if 70 percent of migrant workers buy homes in the cities, it would solve the 2.2 billion square meters of housing inventory.''