2011-02-28 10:53

BEIJING - Chinese Premier Wen Jiabao on Sunday reiterated his determination to tame the country's runaway housing prices during his tenure, which is to end in March 2013.

Wen made the pledge in response to complaints about soaring home prices in an online chat with the public, jointly hosted by the websites of the central government and Xinhua News Agency.

The pledge came exactly a year after Wen vowed to tame "wild horse" housing prices during another online chat.

"We have to contain the excessive price growth and keep housing prices at a reasonable level," Wen said.

"I am still confident that we will achieve the goal of policies."

China's housing prices have been climbing steeply since June 2009, fueled by record bank lending and tax breaks. The monthly year-on-year growth rate hit a record 12.8 percent in April last year.

To avoid a property bubble, the government has announced a series of policies to discourage speculation and curb excessive price rises, including higher down payments and lending rates, purchase limits and increased housing supplies.

However, housing prices are still rising, with prices of new properties in 68 of 70 major cities up from a year earlier again in January.

According to the National Bureau of Statistics, 10 of the 70 surveyed cities reported double-digit increases in new home prices.

Wen said the government would work to increase housing supplies, with 36 million affordable homes planned in the five years, including. Last year, 5.9 million affordable homes were built.

The central government has signed strict agreements with provincial governments to guarantee the construction of 10 million subsidized apartments this year.

Vice-Premier Li Keqiang Thursday ordered local governments to increase funding and land supplies for affordable housing projects, stressing the construction of 10 million units was a mandatory task that must be fulfilled this year.