China will restrict credit for the purchase of certain homes in an effort to counter speculation in the real estate market amid booming prices, Housing Minister Jiang Weixin said on Wednesday.
Jiang said that the restrictions will be aimed at buyers of more than one property and vowed to crack down on property hoarding by developers.
"The government will adopt tighter credit policies for the purchase of second homes to curb speculative investments," he said in a statement.
Beijing has already started to begun unwinding some of its stimulus measures aimed at the property market amidst growing fears that the Chinese property market is overheating and could well be heading towards a full-blown bubble.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.