The central government of China has no plans of implementing another round of tightening measures in the property market in the third quarter, said a senior official.
Wang Yulin, deputy research head for the Ministry of Housing and Urban-Rural Development, said the central government would intensify efforts to implement tightening measures, which have already been announced to curb the red-hot housing market, including restrictions on lending to developers and curbs on multiple homes purchases.
Xu Shaoshi, Minister of Land and Resources, also said that property prices in the country would decline in the third quarter given the continued tightening efforts, which was interpreted by some as an indication that China is planning a new wave of curbs.
“Such media reports embellished his remarks,” said Mr. Wang, adding that China’s property market would not experience hardship this year.