Housing prices

It is of utmost importance to ensure the implementation of policies aimed at curbing housing prices. The Central Government will enhance checks over local governments' efforts in curbing housing prices. A strict accountability mechanism will be implemented.

The Central Government will closely follow the development of the country's real estate market to make more effective policies.

Local governments should fulfill their responsibilities of regulating the real estate market. First of all, local governments should make their targets public in lowering housing prices and publicize related policies.

Speeding up the construction of welfare apartments is a key measure to curb housing prices. It will cut demand and help solve the problem of the real estate market.

China will build 10 million welfare apartments respectively in 2011 and 2012. A total of 36 million welfare apartments will be built from 2011 to 2015.

Most of the welfare apartments, except those renovated from bungalows, will be used for low-income renting.

The Central Government will appropriate 103 billion yuan ($15.67 billion) to local governments for welfare housing projects. Local governments should expand investment in welfare housing and extensively utilize social resources.

The government will give priority to the land supply of welfare housing.

Welfare apartments must be of high quality, safe and environment-friendly. It is a great opportunity for China's real estate industry. Losing it would be a shame.

With respect to the construction of these low-income housing, we must at present formulate the management and return mechanisms so that we can put in place a complete system governing the construction, management and return of these houses, and ensure the good quality and efficiency.