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December 15, 2009

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State Council On Housing Case

THE State Council, or China's Cabinet, said yesterday the government was discussing measures for the healthy development of the country's real estate sector as house prices in some cities were rising too fast.

As the market recovers, housing prices in some cities were soaring too fast, which deserved "great attention," according to an executive meeting of the State Council, chaired by Premier Wen Jiabao.

China would increase supplies of smaller houses at medium and low-price levels and continue to support residential consumption for improved housing while curbing speculation, it said.

The country would also expand construction of home projects for low-income families, aiming to help 15.4 million more poor households solve their accommodation problems by 2012, the meeting agreed.

Meanwhile, more efforts would be made during the next three to five years to improve living conditions for residents in shabby city houses, they said.

About 10 million households were still living in "shantytowns" in some cities, it said.


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