Economy

Local governments to be held accountable for curbing housing prices

(Xinhua)
Updated: 2011-03-14 15:20

BEIJING - Chinese Premier Wen Jiabao on Monday pledged to hold local governments strictly accountable for reining in runaway housing prices.

"It is of uttermost importance to ensure the implementation of policies aimed at curbing housing prices," Wen told a press conference after the conclusion of the annual session of the National People's Congress (NPC), China's top legislature.

Related readings:  Jan property prices rise in most cities  Land ministry to control housing land prices  Chongqing leads the way in affordable housing  Affordable housing highlighted in curbing home prices

The central government will enhance inspections on the local governments' efforts in curbing housing prices.

A strict accountability mechanism will be implemented, he said.

He called for the local governments to fulfill their responsibilities of regulating the real estate market.

"First of all, the local governments should announce their targets in lowering the housing prices and publicize related policies."

?The central government will closely follow the development of the country's real estate market to make more effective policies, he added.