Despite efforts, housing prices continue to rise

BEIJING - China will face considerable pressures caused by increasing housing prices in the next 20 years as a hefty demand for housing will persist amid the nation's accelerated urbanization and industrialization, a senior official said on Monday.

"Demand is big, while land supply is limited. So pressures caused by rising prices are still mounting," said Jiang Weixin, minister of housing and urban-rural development at a press conference held on the sidelines of the annual NPC session.

However, the central government is determined to curb runaway housing prices, he said.