China pledges to keep real estate market stable

NPC, CPPCC Annual Sessions 2009

Special Report:Global Financial Crisis

BEIJING, March 5 (Chinese media) -- China will

take measures to stabilize real estate market confidence while promote "orderly

development" of the industry, Premier Wen Jiabao said Thursday morning.

Wen made the remarks in the government work report

delivered to nearly 3,000 lawmakers at the annual session of the National

People's Congress, the country's top legislature.

"We will adopt even more vigorous and effective

policies and measures to stabilize market confidence and expectations, keep real

estate investment stable, and promote steady and orderly development of the real

estate industry," Wen said.

The country plans to earmark 43 billion yuan (about

6.28 billion U.S. dollars ) in its 2009 budget to build low-rent houses for poor

families, he said.

The government will also "strive to solve the housing

problems of 7.5 million low-income urban families and 2.4 million families

living in shantytowns in forests, on reclaimed land and around coal mines within

three years," he said.

Wen also pledged to deepen reform of the urban

housing system to meet people's multilevel housing demand, and strive to ensure

adequate housing for everyone.