China Property Prices May Cool on Stricter Lending Policy: Journal

China's housing prices may slow further in H2 as the market enters another phase of correction following policies that restrict credit lending, the China Securities Journal reported citing a research report by Tianfeng Securities. New home sales last week in 36 large cities slid 13.2% from a week ago, with the top-tier cities plunged 23.25%, the newspaper said citing the brokerage's data. Some developers reported double-digit drops in June sales from last year, the newspaper said. While regulatory efforts will continue to contain the housing industry, regional governments may support a stable market to help boost incomes as they grapple with slowing fiscal revenue growth, the newspaper said.