China's housing authority said Friday that it would accelerate the establishment of its personal housing information system and share the housing information of 40 major cities online by the end of June.

According to a statement posted on the website of the Ministry of Housing and Urban-Rural Development, the establishment of the housing information system will be one of the ministry's most significant projects this year.

China first ordered urban authorities to start working on the system in April 2010 as part of its efforts to rein in runaway housing prices.

The system will allow housing authorities at all levels to know the exact housing status of every individual in their area and acquire the data needed for policymaking and implementation.