China says it's managing to slow property inflation

BEIJING (Reuters) - The Chinese government has succeeded in curbing property speculation in some cities where real estate prices were rising too fast, the housing ministry said on Monday.

Beijing has tightened rules in recent months governing mortgage down payments and hoarding by developers of land and finished apartments in order to brake property inflation -- one of the biggest complaints of ordinary Chinese.

In a statement released during the annual session of China's parliament and its political advisory body, the ministry said property prices had now stabilized.

(Reporting by Beijing newsroom; Writing by Alan Wheatley; Editing by Jacqueline Wong)