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From Reuters:
Zhou Xiaochuan, governor of the People’s Bank of China (PBoC), said the Chinese government is “paying close attention” to rising property prices in some cities and will take appropriate measures to promote the real estate market’s “healthy development”.
A number of Chinese cities including Beijing, Guangzhou, Shenzhen, Suzhou, Chengdu and Wuhan announced new restrictions on property purchases and mortgage downpayment during China’s week-long National Day holiday in the beginning of October. The moves came as part of an effort to ward off property speculation.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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