Cabinet keeps curbs on property market

BEIJING - In the latest story in the government real estate saga, the State Council has called for local governments to increase the supply of subsidized housing and curb speculation in the property market, according to the cabinet's website.

On Wednesday, China said it would continue efforts to put a damper on the red-hot market for the rest of the year, after the latest data showed property prices remaining buoyant.

It put the burden on local governments again, telling them to cool the real estate market and said China would put "firm curbs on rapid property price increases in some cities".