http://timesofindia.indiatimes.com/world/china/Another-Chinese-city-restricts-home-purchases/articleshow/10564851.cmsSHANGHAI: China's southern city of Zhuhai on Tuesday became the latest to restrict home purchases and cap property prices after Beijing rebuffed recent talk that it might relax policies aimed at containing property inflation.
Chinese Premier Wen Jiabao stressed at a cabinet meeting over the weekend that China would "unswervingly" maintain its property curbs, although it would fine-tune other macroeconomic policies.
The reaffirmation, dousing off some investors' expectation for a loosening of China's more than one-year long property tightening measures, drove down property shares in Shanghai on Monday. The index was down 1.0 percent on Tuesday morning.
However, Beijing so far has ignored the relaxation of local mortgage rules last month by the eastern city of Nanjing and by Anhui province, after it apparently blocked a similar move by southern Foshan city.
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