July 24, 2020 / 11:18 AM / 13 days ago

China will not use property market as short-term stimulus: vice premier

FILE PHOTO: Chinese Vice Premier Han Zheng attends the closing session of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China May 27, 2020. REUTERS/Thomas Peter/Pool

BEIJING (Reuters) - China’s Vice Premier Han Zheng said on Friday that the government will not use the property market as a form of short-term stimulus to prop up the economy, state radio reported.

Authorities will also prevent funds from illegally flowing to the property market, Han said, according to state radio.

Reporting by Stella Qiu and Kevin Yao; Editing by Alex Richardson

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