China takes measures to curb soaring housing prices

Aggressive steps were taken by China to restrain soaring housing prices and discourage real estate speculation.
May 31, 2006, 11am PDT | Feng Zhang
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"The new measures by the State Council included tighter lending standards and higher minimum down payments. They came only a week after banks were told to favor families buying their first homes and to cut back on lending to investors in expensive luxury villas and apartments."

Thanks to Feng Zhang

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Published on Monday, May 29, 2006 in China Daily

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