Guangzhou, Shenzhen latest cities to impose property cooling rules

Beijing

CHINA'S southern megacities of Guangzhou and Shenzhen are the latest centres to roll out new measures to cool their overheated real estate markets, including higher mortgage downpayments and home purchase restrictions.

A property boom has given a welcome boost to China's economy this year, fuelling demand for everything from construction materials to furniture, but a growing buying frenzy is adding to worries about ever-rising debt and risks to the banking system.