April 6, 2017 / 8:30 AM / 5 months ago

China's vice premier urges strict property controls in new economic zone

BEIJING, April 6 (Reuters) - China's vice premier urged that strict controls be placed on property development in Xiongan, a new special economic zone in the northern province of Hebei, the official Xinhua news agency said.

Zhang Gaoli made the comments at a conference about integrating the Beijing-Tianjin-Hebei region.

News of the plan to develop Xiongan, announced on Saturday, sent bargain-hunters flocking to the area sprawled over 100 sq km (39 sq miles), and by Sunday, average prices of apartments in the region had almost doubled. (Reporting by Sue-Lin Wong; Editing by Clarence Fernandez)

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