December 27, 2016 / 11:54 AM / 7 months ago

MEDIA-China seeks to curb brokerage investment in overheated residential property: newspaper

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-- Source link: -- China has proposed suspending registration of private equity asset management plans for securities and futures brokerages if the money is used to lend to property developers, illegally funding downpayments to buy property, a state-owned newspaper said on Tuesday.

The proposal would apply to indirect as well as direct investment in residential property projects in cities where house prices have been soaring, 21st Century Business Herald reported on Tuesday, citing unnamed sources close to policymakers. -- Note: Reuters has not verified this story and does not vouch for its accuracy (Editing by Ruth Pitchford)

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