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To avoid bubble, China to step up financial regulation in property market

China's housing market has seen a near two-year boom, giving the economy a major boost but stirring fears of a property bubble

Reuters  |  BEIJING 

China will step up financial regulation and crack down on speculation in the property market to stabilise prices and fend off bubble risks, state television CCTV reported on Tuesday, signalling renewed efforts to rein in risks from a rapid build-up in debt in the economy. The remarks from regulators at the People's Bank of China (PBOC), the Ministry of Housing and Urban-Rural Development (MHURD) and the Ministry of Land and Resources (MLR) during a joint work meeting in central China's Wuhan laid out short-term tasks to be achieved in real estate, CCTV said. China's ...

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First Published: Tue, November 21 2017. 16:17 IST