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Property took a downturn in 2014 with weak demand and a supply glut. Sales and prices fell and investment slowed, while the stock of unsold grew.

Li also hoped that foreign experts working in China will continue to share their ideas and insights with China for the benefit of common development of the Chinese economy and the global economy.

China will stick to and improve the basic economic system, push forward reforms of state-owned enterprises, support development of the non-pubic sector, further streamline administration, and accelerate reforms in financial, tax and financing systems, the draft said.

There were 719 million square meters of unsold homes at the end of 2015, enough to house nearly 24 million people at the Ministry of Housing and Urban-rural Development estimate of 30 square meters of living space per capita.

The G20 Hangzhou Summit is slated for Sept. 4-5 with a theme of "Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy."