Xiongan moves to curb speculation on real estate

Xiongan New Area in Hebei province has rolled out a series of measures to stabilize property prices and curb speculation, including tackling illegal activities and providing information.

Prices have surged since the central government unveiled its blueprint for the area on April 1.

According to the official WeChat account for Xiongan, more than 1,000 houses, both for commercial and residential use, have been rented to nonlocal enterprises and individuals who have swarmed into Xiongan in the past five months.