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China's Moves to Cool Property Prices May Be Working

  • Property curbs may cut 0.6 point from GDP, Morgan Stanley says
  • Rinko Zhang is stood up as buyer no-shows for Beijing signing
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China Property Curbs Start to Bite

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The push by China’s policy makers to rein in property bubbles looks to be getting traction, according to early indicators from the nation’s biggest cities.

Beijing home sales volume plunged 41 percent year-on-year last month while Shanghai’s slumped 18 percent, China Real Estate Information Corp. data show, after new purchase restrictions and tightened mortgage lending. Transactions fell 50 percent in smaller cities.