China to "firmly rein" in property speculation: report

Key points of Premier Wen's government work report:

• China to control scale of megacities in urbanization drive: Wen
• China to optimize government expenditures: Wen
• Wen suggests new gov't expanding domestic demand
• Wen stresses concrete action in addressing environmental woes
• Facts and figures: China's major development goals for 2013
• China to further 'stimulate' private investment: report
• China to 'firmly rein' in property speculation: report
• China to increase 2013 deficit to 1.2 trillion yuan
• China lowers 2013 inflation target to 3.5 pct
• China keeps 2013 GDP growth target unchanged at 7.5%
• China to continue 'proactive fiscal, prudent monetary' policy

BEIJING, March 5 (Xinhua) - The Chinese government will "firmly rein in" speculative and investment-driven housing demand and to promptly improve the accountability system for stabilizing housing prices, according to a government work report to be delivered to China' s top legislature on Tuesday.

According to the report, Wen will suggest that his succeeding government promptly improve policies for regulating the real estate market and strengthen mechanisms for sustaining its steady and sound development.

The government should continue to build and manage government-subsidized housing for the people so they have housing they are satisfied with, said the report.

This year, 4.7 million government-subsidized urban housing units should be basically completed, construction of another 6.3 million units should begin, and renovation of dilapidated rural houses should continue, it said.