It seems probable that the government is very serious about controlling the property bubble. According to state media reports real estate firms have been forbidden to sell new shares until the authorities are convinced that they are not manipulating house prices.
Another state outlet reported yesterday that a property tax is about to be introduced, and may have already been approved in Shanghai and Chongqing.
It is also suggested Beijing is planning to make banks responsible for their loans to trust companies, which are sometimes local governments skirting prohibitions on domestic borrowing.
It seems that selling loans or bonds to foreign investors is still permitted; or rather it cannot be so easily or quickly curtailed. However several developers have already said the measures introduced are very steep and will lead to a fall in prices.
The Assett reports the CBRC (China Banking Regulatory Commission) is warning the banks; but the CSRC (China Securities Regulatory Commission), which would usually have applied its pseudo-monetary levers of influence on who can issue securities, haw been instructed that the Land and Housing Ministry will make that call for developers.