China may step up efforts to slash its mounting housing inventory, with farmers and migrant workers being the biggest beneficiaries.

Citing anonymous sources, Economic Information Daily reported that the Ministry of Housing and Urban-Rural Development is formulating a plan to support farmers and migrant workers in the purchase of homes in China's third- and fourth-tier cities, which have been plagued by a rising stockpile of unsold homes.

The newspaper is affiliated with Xinhua News Agency.