On Wednesday following talks about the country's current economic development an executive meeting of the State Council, China's cabinet, outlined its top priorities.

The meeting was chaired by Chinese Premier Wen Jiabao. A report from the meeting said the overall economic situation was "good" and the nation's economy continued to grow "fast but steadily."

The report pointed out, however, that fast growth in fixed asset investment, over extended loans, shortages of energy resources and pollution remained major problems facing the country.

It urged all regions and departments to carry out the economic blueprint of the Communist Party of China Central Committee produced earlier this year and to step up the adjustment of the economic structure, change growth patterns and further deepen reforms.

"Continuous efforts should be focused on agriculture and rural work to ensure the steady increase of grain production and the incomes of farmers," said the report from the meeting. "The fast growth in the fixed asset investment should be firmly curbed," it emphasized.

The meeting urged all departments concerned to "strictly" control the approval of new construction projects, to reduce the land available for building and cut back bank lending.

Further measures need to be taken to improve the availability of housing and stabilize property prices, it noted.

The report also said the fast pace of loans being granted needs to slow down but added that more support should be given to agriculture and small and medium-sized enterprises in terms of extending loans.

The report indicated that tough measures would be taken against those responsible for pollution. .

The meeting also called for balanced development in the country's foreign trade, further strengthening of control on the export of high energy consumption products, resources-intensive products and goods produced by industries which caused heavy pollution.

They promised to continue improving their work and make every effort to solve problems related to the interests of the people.

(Xinhua News Agency June 15, 2006)