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在线翻译:
szdaily -> Business
Cities tighten sale rules to tame property market
    2017-September-25  08:53    Shenzhen Daily

SEVERAL Chinese cities including Shijiazhuang, Chongqing, Nanchang, Nanning and Guiyang are imposing restrictions on home resales as part of the nation’s campaign to cool its heated property sector.

Chongqing will ban sales of new and existing residential properties in downtown areas within two years of purchase, according to a statement on the city’s housing authority website. The move seeks to curb speculative investment and boost healthy development of the property market, it said late Friday. The measure took effect Saturday.

Shijiazhuang, capital of Hebei Province, prohibited the resale of homes within five years of buying, the local government said Saturday, and Nanchang, capital of Jiangxi Province, will cap sale prices and ban resales for two or five years after purchase, depending on the type of property, the city’s housing authority said in a statement.

Guangxi capital Nanning prohibited companies from reselling residential properties for two years after purchase, while Sina.com cited a local government document in Guiyang, Guizhou Province, as saying a ban had been imposed on the resale of new properties for three years after purchase.

Changsha, capital of Hunan Province, has also limited property sales to non-local residents to one unit per person.

Xi’an in Shaanxi Province has asked real estate developers to report home prices to local price-monitoring departments before sale, effective today, and reiterated its pledge to crack down on property price manipulation and speculation.

Meanwhile, the banking regulator of Shaanxi Province has ordered inspections of local banks to better gauge financial risks from illegal lending to the real estate sector, two banking sources said Friday.

The Shaanxi office of the China Banking Regulatory Commission (CBRC) is targeting six areas of irregularities, including illegal financing for land purchases and real estate development projects, and loans borrowed to fund mortgage down payments, the sources said.

The banking regulator also asked banks to “strictly prevent” default risks of property developers and individual mortgages, particularly those issued during the period of rapid housing price rises.

All outstanding real estate loans through end August will be checked, and the period could be extended if deemed necessary, according to the sources.

China’s new home prices rose in August at the slowest pace in seven months and fell or levelled off in more cities as government cooling measures dampened speculation, though there were no signs of a sharper correction that could damage the economy.

The CBRC said in August that risks surrounding China’s real estate loans are under control, as the nonperforming property loan ratio was only at 0.49 percent at the end of the first quarter, 1.49 percentage points lower than the overall nonperforming loan ratio.

Still, short-term household loans in August doubled from July to 216.5 billion yuan (US$32.83 billion), as some homebuyers may be turning to short-term consumer loans due to curbs on mortgages, analysts said. (SD-Agencies)

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