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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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.