China: Cities and Province

china: But experts warned that policies should tailored to each city, according to Global Times China. Buildings tower over Huaian, East China Jiangsu Province, on Thursday. Recently, residential housing prices started to rise rapidly in some third- and fourth-tier cities, partly due to speculative housing purchases. Photo: CFP Since September 30, more than 20 cities, including first-tier cities like Beijing and Shenzhen, South China Guangdong Province, and smaller cities like Wuxi and Suzhou, East China Jiangsu Province, have announced new restrictions on property purchases, as the central government tries to cool the soaring property market. The Beijing municipal government raised the minimum down payment for first-time home buyers to 35 percent from 30 percent. In a G20 meeting in Washington on Thursday, Zhou Xiaochuan , the governor of the People Bank of China , said that China is paying close attention to rising property prices in some cities and "will take measures to promote the sound development of the real estate market," according to a statement posted Saturday on the PBC website. (news.financializer.com). As reported in the news.