China property tightening policies to continue

SHANGHAI: Tightening measures to curb speculation in China's real estate sector will not be changed, the official Shanghai Securities News reported on Thursday, July 29 citing a government researcher.

Liu Yingjie, a researcher at China's State Council, or cabinet, said regulation in the property market had been effective in regulating the surge in housing prices in some cities.

Beijing clamped down on the country's property sector in mid-April this year, unleashing a range of measures including requiring higher down payments and mortgage rates to curb rapid housing price rises, and triggering a near 30% fall in Shanghai's Composite Index. 

China's property prices fell 0.1% in June from May, the first monthly decline since February 2009.