By the end of 2017, China will secure full delivery of 18 million new homes for rundown urban areas as part of a three-year program.

The matter was deliberated at a State Council executive meeting that Premier Li Keqiang presided over on Wednesday. Li defined the campaign as a major component of supply-side structural reform and a strong push to improve quality of life and development.

"Our institutional advantages have been demonstrated over the past eight years as the campaign has achieved fruitful outcomes and a set of good practices," he said.