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Property sector curbs likely to continue

Regulations to curb property sector risks must not be relaxed, Chinese authorities said on Tuesday. Officials must not think of "taking a breather", according to a statement issued after a meeting on real estate policies in Central China's Hubei province. The meeting was held by the Ministry of Housing and Urban-Rural Development, the Ministry of Land Resources and the People's Bank of China. Since late last year, dozens of local governments have passed or expanded restrictions on house purchases and increased the minimum down payment required for mortgages. The property market was also cooled by tightened liquidity as the government contained leverage and risk in the financial system. The statement stressed continuity and stability of property controls.

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