Wen: More fine-tuning to support economy, no property easing

China’s Premier Wen Jiabao pledged more aggressive efforts to fine-tune fiscal and monetary policy to support growth, but also said the government would persist with property controls, Bloomberg reported, citing state media. In meeting with officials on affordable housing, Xinhua reported that Wen said “we must unswervingly continue to implement all manner of controls in the property markets to allow prices to return to reasonable levels. We cannot allow prices to rebound, or all our efforts will come to naught.” Policy efforts have already stabilized the slowing economy, Wen said. Growth is expected to be “within the target zone set at the beginning of the year.” The government set a 7.5% growth target earlier this year. Wen’s remarks came days after the central bank cut interest rates for the second time in roughly a month.