Chinese Premier vows to curb excessive growth of home prices

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao on Friday reiterated determination to curb excessive growth of home prices in major cities and satisfy people's basic need for housing as the annual session of China's top legislature opens.

Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010. (Xinhua/Liu Weibing)

He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC).

China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.