BEIJING - China's housing conditions have been significantly improved during the 14th Five-Year Plan period (2021-2025), with cumulative sales of new commercial residential buildings reaching approximately 5 billion square meters of floor space, Minister of Housing and Urban-Rural Development Ni Hong announced on Saturday.

During the five years, more than 110 million Chinese people have benefited from the country's large-scale renovation projects for old residential compounds, Ni told reporters at a press conference.

According to the minister, over 240,000 old residential communities across Chinese cities have undergone renovation during the period. The quality of urban living environments has further improved, he said.