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State Council Launches New Measures for Property Market Control
On Jan. 26, Premier WEN Jiabao presided over the executive meeting of the State Council, discussing and deploying the work of controlling the property market. The following measures were established in the meeting: ① The local government should take further responsibility in promoting the smooth and healthy development of the property market. ② The construction of social housing should be reinforced. The governments at various levels should, by means of new houses construction, renovation, purchase, and long-term rental, etc., increase the stock of social housing from multiple channels, so as to gradually expand the coverage of the housing security system. ③ Related tax policies should be adjusted and completed, and tax collection and management should be enhanced. ④ The differentiated housing credit policy should be strengthened. ⑤ The supply of residential land should be strictly controlled. The governments at various levels should increase the effective supply of land and meet the requirement that the land used for social housing, renovated housing in shantytowns, and small- to medium-sized common commercial housing should occupy no less than 70% of the total supply of residential land. The land for social housing listed in the annual plan of newly increased construction land should be guaranteed as much as possible. The planned total supply of commercial residential land should, in principle, be no less than the average annual actual amount of the previous two years. The method of restricting the housing price and auctioning for land price should be fully popularized to supply medium- and low-priced common commercial residential land. ⑥ The demand for housing should be reasonably guided. ⑦ The interview and accountability mechanism for realizing housing security and stabilizing housing price should be carried out. ⑧ The guidance of public opinion should be insisted on and strengthened.

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