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The financial sector should support.....>

CHINA PRESS
CHINA PRESS: The financial sector should support healthy development of the
property sector, but speculation and a bubble in the property market cannot be
helped, said Financial News, a newspaper managed by the People's Bank of China,
in a report Monday. 
- CBRC stressed on Friday the need to curb the leverage ratio in the household
segment and to prohibit illegal credit flows to the property sector.  
- Many short-term consumer loans are not used for consumption but for home
purchases, which need to be cracked down on: Financial News  
- Credit should be highly restricted to prevent illegal flows into the property
sector; loans should not be given to unqualified property developers; and banks
should increase support for the development of the housing rental market:
Financial News.  
***TAKEAWAY: Banks will continue to tighten credit in the property sector.
Developers will face high financial pressures, which will likely further weigh
on property investment. 

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