World Economy

China Freezes Property Sales

China Freezes Property SalesChina Freezes Property Sales

China is banning new property sales in counties earmarked as part of a new special economic zone in Hebei province, Reuters reported. Government officials alerted developers and agents of the halt at emergency meetings on Sunday morning in Hebei’s Xiongxian and Anxin counties, according to the National Business Daily. Over a dozen Chinese cities have imposed fresh curbs on home purchases in recent weeks in a bid to cool off heated prices, after the property market largely shrugged off earlier measures. The new special economic zone, dubbed the Xiongan New Area, was announced on Saturday and covers 100 sq km, with plans to extend it to 2,000 sq km.


Add new comment

Read our comment policy before posting your viewpoints