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China will firmly implement tightening measures on the housing market, and unswervingly curb speculation and investment. That's according to an official from China's Banking Regulatory Commission.
The spokesman said the construction of affordable housing will be supported, and risks controlled. That's because the housing market and mortgage loans, are of great significance to the healthy and sound development of the banking industry.
The banking regulator will further supervise the management of mortgage loans, and severely crack down on illegal behavior. In the meantime, the government is also pushing forward pressure tests on mortgage loans.