China’s government took further steps to curb stubbornly high property prices, ordering banks nationwide to halt lending for third and subsequent home purchases and raising down-payment requirements for first-time buyers.
The moves, announced in a statement Wednesday by the State Council, China’s cabinet, add to measures unveiled in April that have so far achieved limited success in the key goal of making housing more affordable. Official measures of residential real-estate prices have been flat since June, but have yet to show any decline.
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