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Premier Vows to Tame Skyrocketing Housing Prices

China Still Biggest Foreign Buyer of US Debt

BEIJING, Mar. 1 -- Chinese Premier Wen Jiabao on Saturday said he was determined to tame the country's soaring housing market and to keep the prices at a reasonable level within his term as Premier.
Wen made the pledge in response to netizens' complaints about soaring housing prices during his online chat with Internet users around the country and abroad.
&quot;I really understand the complaints,&quot; Wen said, &quot;housing prices in some cities rise too fast.&quot;
&quot;Huge population with limited land made people's access to houses a problem,&quot; Wen said, adding it was key to increase supply to solve the problem.
Wen said the government would step up efforts to increase house supplies to make the access easier.
Chinese government will build five million affordable houses this year after two million were finished in 2009. Two million shanty houses would be reconstructed this year, in addition to the 1.8 million completed last year, he said.
The government would also give support on land, finance and tax to help people buy homes for their own use, and use economic and legal methods to curb property speculation, Wen said.
&quot;It is the government's responsibility to guide the property market&quot;, Wen said, &quot;I am confident that the government would ensure a healthy development of the property market.&quot; 
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