A market-oriented, long-term mechanism will curb real estate bubbles and prevent volatility. In cities where prices are rising fast, authorities should increase land supply and the share of residential housing.

Other policy includes advancing structural reform in agriculture, reviving the real economy and overhauls of state firms.

China will take substantial steps toward mixed-ownership in the sectors of electricity, oil, natural gas, railway, civil aviation, telecommunications and military industries.

Meanwhile, China aims to attract more foreign investment, hoping foreign-funded businesses can play an important role in developing the real economy.

To ensure the economy runs within a reasonable range, the meeting stressed more coordinated policy-making.

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