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China’s Premier Says Housing Curbs Weren’t Well Implemented

China’s Premier Wen Jiabao said measures to curb the country’s property market weren’t well implemented and reiterated his goal for home prices to return to a “reasonable level” during his term that ends in 2012.

The government will also increase the supply of affordable housing and introduce more measures to curb speculation, he said on National Radio yesterday. China’s land sales are expected to top 2 trillion yuan ($302 billion) this year from 1.5 trillion yuan in 2009, the official People’s Daily reported today.