Wen Jiabao said that China’s government would increase its investment in affordable housing by US$2.8 billion, Bloomberg reported. The government will also provide US$1.88 billion to subsidize pensions for farmers, with an eye to boosting coverage to 60% of those eligible, up from the original target of 40%. China’s government plans to spend US$200 billion on affordable housing units this year. But analysts say that the government may have trouble finding the money – central and local governments will provide under half of that figure. Liu Mingkang, head of the China Banking Regulatory Commission (CBRC), said this week that the country’s banks must cooperate with government plans for affordable housing to make sure loans made to property developers will be repaid on time.