BEIJING (Reuters) – The bubbling trend of China’s property sector has been curbed as measures to support the industry are gaining traction, Deputy Governor of the People’s Bank of China Pan Gongsheng said on Friday, adding the property sector is improving.
China will push forward the transformation of the property sector and insist that housing is for living, not for speculation, Pan said.
New home sales in China rose sharply in February from a slump in the previous month, buoyed by a rise in demand in small and medium-sized cities after the scrapping of COVID curbs and supportive property policies, a private survey showed on Monday.
(Reporting by Kevin Yao; Writing by Ellen Zhang; Editing by Christian Schmollinger)
