More property tightening in China, via Bloomberg:
Banks are asking Hong Kong property agents to stop accepting China-issued UnionPay cards, as mainland authorities escalate their crackdown on capital flows out of the country.
Ricacorp Properties Ltd. won’t accept China-issued UnionPay cards for home purchases starting Friday after it received a verbal notice from banks, said a spokesman. Centaline Property Agency also implemented the new rule, according to people familiar with the matter, who asked not to be named because they aren’t authorized to speak to media.
