China to stabilize property prices – China Daily

From ChinaDaily.com:

Vice-Premier Zeng Peiyan has pledged to stabilize soaring property prices by putting up more real estate for sale, standardizing the market and offering more and better houses to low-income families.

By the end of last year, 512 of the 657 cities had set up the low-rent housing scheme, and the Ministry of Construction ordered that it be extended to the rest of the country this year.

The meeting emphasized a combination of market mechanism and governmental regulations, Xinhua News Agency reported yesterday. [Full Text]