We will accelerate the improvement of the social security system that covers both urban and rural residents. We will extend the pilot project for the new type of old-age insurance for rural residents to 40 percent of counties. We will move forward with the trials of old-age insurance for urban residents, solve longstanding problems concerning pensions for retirees of collectively owned enterprises, and put in place a mechanism to regularly adjust the basic pensions of enterprise retirees. We will actively press ahead with the reform of the old-age insurance system for government agencies and institutions. We will include employees of SOEs and collectively owned enterprises who suffer from old work-related injuries in the workers' compensation system. We will improve the subsistence allowance system for both urban and rural residents. We will continue to enlarge the pool of social security funds through multiple channels. Funding for raising and educating orphans and rehabilitating orphans with disabilities will be provided for in the government budget. We will continue to push forward the development of a social security system and a service system for people with disabilities. We will speed up the informationization of social security management. We will get commercial insurance to play a role in improving the social security system. We will also vigorously develop charity programs.

We will resolutely regulate the real estate market. We will act more quickly to improve the long-term mechanisms for regulating the real estate market, focus on solving housing difficulties for low- and middle-income families in urban areas, genuinely stabilize housing prices and meet the reasonable demands of residents for housing.

First, we will build more low-income housing.This year, the total number of units of new low-income housing and units in run-down areas that will undergo renovation will reach 10 million, and 1.5 million dilapidated rural houses will be renovated. We will give priority to developing public rental housing. The central government is allocating 103 billion yuan in this year's budget for subsidies to support this work, an increase of 26.5 billion yuan over last year. Governments at all levels need to raise funds through various channels and substantially increase spending in these areas. We will promptly establish an administrative system for the use, operation and return of low-income housing; increase transparency; and strengthen public oversight to ensure that eligible families benefit from low-income housing.

Second, we will further implement and improve policies for regulating the real estate market and firmly curb the excessively rapid rise of housing prices in some cities. We will formulate and announce an annual housing development plan, designate sites for building low-income housing in the plan for new construction sites, and make sure that all designated sites are used to develop low-income housing. Emphasis will be placed on building more ordinary small and medium-sized commodity housing units. We will standardize and develop the housing rental market. We will strictly implement differentiated housing credit and tax policies, adjust and improve tax policies on real estate, tighten tax collection and administration, and effectively curb the purchase of homes for speculation or investment purposes. We will strengthen monitoring of the real estate market and oversight of market behavior, and strictly deal with all violations of laws and regulations.

Third, we will establish sound evaluation and accountability mechanisms. Provincial governments have general responsibility and municipal and county governments have direct responsibility for stabilizing housing prices and guaranteeing the availability of low-income housing. Relevant government authorities need to more quickly improve inspection, appraisal, admonition and accountability systems. Localities that put insufficient effort into stabilizing house prices and promoting the construction of low-income housing and thereby affect social development and stability will be held accountable.