The Minister of Housing and Urban-Rural Development --Wang Menghui-- says that China's home price surge was restrained effectively by policy adjustments. Wang said that the next step would be to accelerate the speed of building a long-term mechanism and implement reforms in the property sector. The minister also said the government wouldn't relax in regulating the real estate market despite positive signals.

WANG MENGHUI, MINISTER MINISTRY OF HOUSING & URBAN-RURAL DEV'T "We will stick to implementing measures with no looseness, and maintain the consecutiveness and stability of policies. That especially demands local governments to take responsibility. Meanwhile, increasing the home supply as well as building a rental and purchasing system should also be accelerated."