Restraining home price rise won't be easy, experts warn

A majority of China's local governments probably failed to meet their targets for home price growth for 2013, and a more reasonable mechanism is needed, industry experts said.

At the start of 2013, almost all of major cities set price growth targets, following the requirement from the State Council, the cabinet, to cool down the real estate market.

Beijing and Shanghai promised to keep property prices at a "stable" level. Others, such as Guangzhou and Shenzhen, said the growth rate should be lower than that of urban residents' average real disposable income, which is usually under 10 percent.