China cracks down on speculation

China will crack down on speculation in the property market, Zhang Ping, the head of the National Development and Reform Commission, was reported as saying by the official Xinhua news agency...

Zhang added that the government would work to expand the supply of low-cost housing, as part of broader efforts to improve its property policies.

Analysts have said that while Beijing will avoid a broader monetary tightening, it will look to focus policies in the coming months on preventing fast-rising property prices from creating a bubble.

Source: www.iii.co.uk