BEIJING, July 20 |
BEIJING, July 20 (Reuters) - Local Chinese governments should not relax property purchase restrictions implemented by Beijing, the central government said late on Thursday, underlining official concerns about renewed inflationary pressures even as the broader economy slows.
The reminder that China should stick to its clampdown on property speculation came after home prices in 70 major cities broke eight straight months of decline in June, as sales grew for the first time in eight months.
"All localities should firmly implement property restriction measures and are not allowed to relax them without permission," th e Xinhua agency quoted an emergency notice from Beijing as saying.
The notice was issued by the Ministry of Land and Resources, and the Ministry of Housing and Urban-Rural Development.
"For those who have already relaxed restrictions, they should correct them immediately," the circular said.
Local governments should also step up their monitoring of the land market to avoid land being sold at high prices in the second-half of this year, the notice said.
China has relaxed monetary and fiscal policies after reining in the property market for more than two years to cool the country's once-record home prices.
Although Beijing and Premier Wen Jiabao have stressed that the government is not changing its tough stance on the housing sector, Chinese media have reported that local governments are quietly relaxing the policy to lift slowing economic growth.
Beijing News reported last month that more than 30 local governments have made it easier for Chinese to buy homes in recent month, boosting property sales and market sentiment. (Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Jacqueline Wong)
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