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China will not use the real estate sector as a tool to provide short-term stimulus to the economy, said Chinese Vice Premier Han Zheng at a meeting on Friday, reiterating the policy stance that "housing is for living, not for speculating."
Han stressed efforts to implement the long-term management mechanism to promote the sound and healthy development of its real estate sector.
China will continue to implement city-based approach in real estate regulations and to "stabilise land price, stabilise house price and stabilise price expectations", said Han, who also urged local governments . . .
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