I’m with China National Radio and its affiliated website. Just now, my foreign colleague mentioned the issue of rising housing prices and you also said that the government has taken measures to control rising housing prices in three aspects. We have actually seen that since last year the State Council has introduced a succession of measures to bring down the housing prices and some view these measures as the harshest ever. You said in the Government Work Report that the government will resolutely regulate the real-estate market. My question is that, will these measures be fully implemented or will the government give up half-way in their implementation?
We had set out our measures to control rising housing prices. What’s essential now is to ensure the full implementation of relevant policies and measures. In this respect, the central government will step up its inspection of the work on the part of local governments; we must exercise strict accountability system. At the same time, we will follow very closely and analyze the new developments in the real estate market and study focused and targeted macro-control measures in this field. The local governments must conscientiously perform their relevant responsibilities in this respect. For example, they must release their detailed rules with respect to the implementation of the central government’s policies and announce their respective targets about bringing down housing prices. Actually, in regulating the real estate market, we have also adopted a very important measure, that is, we will further increase the supply of government subsidized housing units. This means that we will try to address problems in the housing market by relying on increasing supply. With respect to the government’s subsidized housing, I am aware of some concerns among the people. I would like to say that we have set the target of building 10 million such housing units this year and another 10 million next year. In total in the next five years, we plan to build 36 million government subsidized housing units. They mainly comprise public rental housing and low rent housing. It is essential that we ensure sufficient founding for the construction of those houses. As far as the founding is concerned, the central government will transfer a total of 103 billion RMB yuan to local governments in taking responsibilities of building such housing. The local governments will also increase their fiscal input but at the same time it is essential that we generate greater non-government capital into this field. It is also important that we designate specific sites for the construction of government subsidized housing and ensure that such designated sites will be used only for this purpose. It is also important that we ensure the design and construction of those houses will meet high quality, standards and these low-income housings will be safe, environment-friendly and energy-efficient. I believe this presents us a great opportunity in developing the healthy housing market in China and we must not miss out on this opportunity. With respect to construction of these low income housings, we must at present formulate the management and return mechanisms so that we can put in place a complete system governing the construction, management and return of these houses and ensure the good quality and efficiency.