Money

PBOC rebuts report of 'canceling home purchase limit'

(Xinhua)
Updated: 2011-06-09 11:22

BEIJING -- China's central bank on Wednesday said the media report that some "central bank researcher" forecast the cancellation of the home purchase limit within two years was factually incorrect.

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The report was carried by Wednesday's Oriental Morning Post, a Shanghai-based newspaper, saying that "Chen Zhanyun, a researcher on house price index with the central bank, forecast China may cancel the home purchase limit within two years, otherwise local governments and property sector will face fund difficulties."

"Chen Zhanyun is not a researcher with the central bank and his remarks have nothing to do with the central bank," said the People's Bank of China (PBOC) or central bank in a statement.

Limiting home purchases is one of the tools used by the State Council to cool the property market.

The State Council has adopted a series of measures since last year to tame housing prices, including higher down payment requirements, raising interest rates, direct restrictions on home purchases, the establishment of price control targets, third-home purchase bans and a trial real estate tax in Shanghai and Chongqing, two of China's biggest cities.