BEIJING (Reuters) - China will continue to curb property speculation regardless of recent changes in housing prices, a senior government advisor said in remarks published in Sunday.
Xia Bin, an academic advisor to the central bank, told a weekend forum in Shanghai that Beijing would maintain its “appropriately loose” monetary and proactive fiscal policy stance despite a moderation in economic growth.
China rolled out a series of measures in April, including higher down payments and mortgage rates, to suppress speculative housing demand while intensifying efforts to provide more affordable homes for ordinary people.
Housing transactions slumped in recent months, and annual property price rises in 70 major cities slowed to 10.3 percent in July from 11.4 percent in June.
“Don’t expect any change in the policy even if property prices see some fluctuations. Otherwise, you’ll make empirical mistakes,” Xia said.
“The aim of property control measures is not housing prices in a certain period of time. China intends to establish a system that will help the long-term development of the real estate industry.”
Reporting by Langi Chiang and David Stanway, Editing by Ron Popeski
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