Nation to keep tight rein on property sector

BEIJING - China's top property market watchdog reiterated over the weekend that it will maintain tight regulation of the real estate sector.

Local governments should stick to real estate market management goals and not loosen regulatory measures, according to a statement released on Saturday by the Ministry of Housing and Urban-Rural Development, citing market speculation in some cities.

This is the second time that the authority has voiced its concerns and stance on the real estate market in 10 days.