Action vowed to curb rising home prices

Govt planning to cut excess housing, increase land supply in smaller cities

China will continue to cut excess property inventory in smaller cities while increasing land supply to rein in surging housing prices, Premier Li Keqiang said on Sunday.

The central government will implement tailored policies to address issues in the property market, Li said as he delivered the Government Work Report to the annual plenary session of the National People's Congress, the top legislature.