China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.
China will continue to curb property speculation regardless of recent changes in housing prices, Xiabin, a senior government advisor, told a weekend forum in Shanghai during the weekend, Reuters reported.
Shanghai's housing fund has stopped loans for third-home buyers, following cities like Beijing and Tianjin, which already adopted such measures in May, the Oriental Morning Post reported Friday, citing sources.
Chinese Vice-Premier Li Keqiang said Friday that the government would continue to regulate the housing market and resolutely crack down on speculative property investment and other unreasonable market demands.
China's order for banks to transfer off-balance-sheet loans may lead to a large amount of bond issuance from real-estate companies, CLSA Asia-Pacific Markets said.
Housing prices in major Chinese cities rose 10.3 percent year-on-year in July, 1.1 percentage points lower than the increase in June, the National Bureau of Statistics (NBS) said Tuesday.
China Vanke's net income fell 4 percent in the second quarter to 1.69 billion yuan ($250 million), as the country's top listed developer focused on the mass housing market.
China may need to replace more than half of its housing stock in the next 20 years, a researcher at the housing ministry said in remarks published on Friday.
The runaway trend of soaring housing prices in China's southern island province of Hainan has been reined in thanks to a series of local government policies, a provincial housing official said Friday.
Chinese regulators have called for stress tests on loans to a range of industries, including cement and steel, whose fortunes are closely tied to property markets on the brink of a correction, official media reported on Friday.
Stress tests not signals of policy change: CBRC
Stress tests to test lenders
More realty curbs unlikely: experts
Chinese developers Country Garden Holdings Co and KWG Property Holdings said they are planning to issue dollar bonds, as tighter lending rules in Beijing encourage them to seek funds overseas.
The China Banking Regulatory Commission's (CBRC) plan to conduct stress tests on lenders to gauge the impact of a fall in property prices has triggered fresh concerns that the realty price dip may cast a shadow on China's economic growth.
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