An executive meeting of the State Council, China's cabinet, on Wednesday discussed the country's current economic development and outlined its top priorities.

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

It pointed out, however, that fast growth in fixed asset investment, overextended loans, shortages of energy resources and pollution are still the main problems facing the country.

It urged all regions and departments to carry out the economic blueprint of the Communist Party of China Central Committee made earlier this year and 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 a 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 available land supplies and cut back bank lending.

More measures should be taken to improve housing supplies and stabilize housing prices, it noted.

Meanwhile, the report said the fast pace in issuing loans should slow down, adding, however, more support should be given to agriculture and small and medium-sized enterprises in terms of extending loans.

The report noted that tough laws will be imposed on heavy polluting sectors.

The meeting also called for balanced development in the country's foreign trade, further strengthening control on the export of high energy consumption products and resources-extensive products, and products from high-polluting industries.

It promised to continue improving its work and try hard to solve problems related to the interests of the people.

Source: Xinhua