China will no longer use property market as immediate-term stimulus: vice premier

China will no longer use property market as immediate-term stimulus: vice premier

© Reuters. Chinese Vice Premier Han Zheng attends the closing session of CPPCC in Beijing© Reuters. Chinese language Vice Premier Han Zheng attends the closing session of CPPCC in Beijing

BEIJING (Reuters) – China’s Vice Premier Han Zheng stated on Friday that the government will no longer use the property market as a do of immediate-term stimulus to prop up the financial system, order radio reported.

Authorities will moreover forestall funds from illegally flowing to the property market, Han stated, in line with order radio.

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