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 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.