Chinese Premier Wen Jiabao announced in a State Council meeting today, that the government will step up on reining in the country's real estate market.

Chinese Premier Wen Jiabao announced in a State Council meeting today, that the government will step up on reining in the country's real estate market.

Premier Wen said, the ongoing property curbs are effective, given that property prices are stabilizing and there's less real estate speculation. To further temper stubbornly high home prices, the government is going to extend a pilot property tax program to more cities, and urged local governments to put price control targets on new homes.

The meeting also mentioned that local authorities should publish their annual new home building plans and encourage projects of small and medium sized apartments.

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