31.01.2011 - China uses property tightening as monetary proxy

From Reuters: Reluctant to raise interest rates, China is instead tightening its grip on the property market, a stop-gap strategy that will dampen inflation but fail to cure the root problem of too much cash in the economy. Beijing unveiled a series of new rules this week, including a long-awaited home ownership tax, to deter real estate speculation, its third package of measures in the past year to rein in housing prices...........................................Full Article: Source

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