December 16, 2016 / 9:32 AM / a year ago

China to rein in property bubbles, damp price volatility -Xinhua

BEIJING, Dec 16 (Reuters) - China will restrain property bubbles and prevent price volatility, the Central Economic Work Conference said on Friday, the official Xinhua news agency said in a post on Weibo, the country’s equivalent of social network Twitter.

China will strictly limit credit flowing into speculative buying in the property market and boost the supply of land for cities where housing prices face stiff upward pressure, it said.

China’s top leaders on Wednesday kicked off a conference to map out economic and reform plans. The annual event is keenly watched by investors for clues to policy priorities and economic targets in the year ahead. (Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez)

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