The China Securities Regulatory Commission has sent financing requests from 41 companies to the Ministry of Land and Resources for reviews of land use compliance, according to a statement posted on the government website on April 24.
Central bank governor Zhou Xiaochuan said, in a statement at an International Monetary Fund meeting in Washington on the same day, that China will keep its “relatively easy” monetary policy.
“We will continue to implement a proactive fiscal policy and a relatively easy monetary policy, and will continuously improve the policy package to respond to the international financial crisis to maintain good momentum of the economic recovery,” Zhou said. “The outlook for the global economy faces many uncertainties.”
Bloomberg BusinessWeek reports the latest move adds to curbs on loans for third-home purchases, increased down-payment requirements and higher mortgage rates announced this month. The latest data shows property prices in 70 cities rose a record 11.7% in March, while China’s economy expanded 11.9% from a year earlier in the first quarter, suggesting tighter policies are needed.