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Beijing to step up property controls to cool residential property market: Xinhua

Speculation has pushed home prices in Beijing too high, and rising social tensions pose enormous challenges to the capital's stability, Xinhua reported, citing the Beijing Municipal Committee. Beijing looks to develop a long-term mechanism to stem speculation.

More than a dozen Chinese cities including Tianjin, Shanghai, Guangzhou and Shenzhen have taken measures to curb property speculation, which was likely fueled by easy credit. Beijing on Sept. 30th announced a requirement for higher down payments on property purchases.

Average new home prices in Beijing slowed for a second consecutive month in November following cooling measures taken by the government. Average new home prices in Beijing rose 26.4 percent in November from a year earlier.

China will impose strict limits on credit flowing into speculative buying in the property market in 2017, top officials said at an annual economic conference earlier this month. A slew of property curbs introduced this year in China's biggest cities are likely to be extended through 2017, a government think tank was reported as saying on Monday.

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November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

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54.6 %

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54.6 %

November 27 09:00 UTC 35323532m

ITExport Prices*

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111 %

November 27 09:00 UTC 35323532m

ITImport Prices*

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Forecast

Previous

116.1 %

November 27 14:00 UTC 38323832m

MXTrade Balance, $*

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Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 38323832m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 39223922m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 42524252m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 44324432m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 48524852m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

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